Stock Retreats As Bond Yields Climb Amid Oil Concerns, UAW Strike: What's Driving Markets Friday?
Portfolio Pulse from Shanthi Rexaline
US stocks are expected to open mixed on Friday due to the upcoming Fed meeting and the United Auto Workers union's strike against Detroit's big three. Economic data due for the day could also create market volatility. Thursday saw strong performance from major averages, with the Dow Industrials ending at a one-month high and the S&P 500 Index breaking the 4,500 resistance. Analysts expect the Fed to pause at the September meeting but predict more rate hikes in the future. Adobe, Ford, and General Motors saw premarket falls due to quarterly results and the UAW strike respectively.
September 15, 2023 | 11:33 am
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NEGATIVE IMPACT
Adobe's stock fell over 2% in premarket trading following the release of its quarterly results.
The fall in Adobe's stock price is directly linked to the release of its quarterly results, which seems to have disappointed investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Ford's stock fell about 1.60% in reaction to the strike by the UAW union.
The UAW union strike is expected to have a negative impact on Ford's operations, leading to a drop in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
General Motors' stock fell about 1.30% in reaction to the strike by the UAW union.
The UAW union strike is expected to have a negative impact on General Motors' operations, leading to a drop in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100