Stocks Mixed, Tech Slides As Investor Caution Prevails Ahead of CPI Report: What's Driving Markets Tuesday?
Portfolio Pulse from Shanthi Rexaline
The market outlook remains uncertain with stock index futures indicating a lower opening on Tuesday. Apple Inc. and Oracle Corp.'s guidance are influencing the tech sector sentiment. Traders are cautious ahead of the August consumer price inflation report. The Nasdaq Composite and S&P 500 recorded consecutive gains, while the Dow Industrials Average notched its third consecutive session of gains. Fund Strat predicts higher probabilities of gains this week. In premarket trading, the SPDR S&P 500 ETF Trust and the Invesco QQQ ETF moved down. Oracle, Apple, Tesla, and WestRock Company are in focus.

September 12, 2023 | 10:47 am
News sentiment analysis
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POSITIVE IMPACT
Apple Inc. may offer support to the tech sector.
Apple's performance often influences the overall tech sector due to its size and influence. Positive performance or news from Apple can provide a boost to the sector.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75
POSITIVE IMPACT
WestRock Company jumped 6.60% after it announced a deal to be bought by European corrugated packaging company Smurfit Kappa.
Acquisition news often leads to a boost in the stock price of the company being acquired, as it usually involves a premium being paid for the shares. This seems to be the case with WestRock Company.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
Oracle Corp.'s negative guidance weighs on sentiment.
Oracle's negative guidance can have a negative impact on the tech sector and overall market sentiment. Investors may react negatively to this news, potentially leading to a decrease in Oracle's stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75
NEGATIVE IMPACT
In premarket trading, the Invesco QQQ ETF moved down 0.20%.
The Invesco QQQ ETF's performance is directly tied to the performance of the Nasdaq 100 Index. A decrease in the ETF's price indicates a potential decrease in the overall tech sector.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
In premarket trading, the SPDR S&P 500 ETF Trust was down 0.21%.
The SPDR S&P 500 ETF Trust's performance is directly tied to the performance of the S&P 500 Index. A decrease in the ETF's price indicates a potential decrease in the overall market.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
Tesla fell about 0.70% following the stock’s 10%+ gain on Monday.
After a significant gain, it's not uncommon for a stock to experience a slight pullback as investors take profits. This seems to be the case with Tesla.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75