US Stocks Resume Declines As Treasury Yields Kick Higher, Chipmakers Extend Downside: What's Driving Markets Tuesday?
Portfolio Pulse from Shanthi Rexaline
US stock futures are holding onto slight gains as the Federal Reserve meeting begins. The market is expected to remain cautious as traders anticipate the Fed's future rate trajectory. Stocks showed little movement on Monday, although they ended slightly higher. Wharton Professor Jeremy Siegel predicts a positive market momentum towards the end of the year. In premarket trading, the SPDR S&P 500 ETF Trust and the Invesco QQQ ETF saw slight gains. United States Steel Corporation, Nio, Inc., Apogee Enterprises, Inc., and AutoZone, Inc. are in focus.
September 19, 2023 | 11:20 am
News sentiment analysis
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NEGATIVE IMPACT
Nio, Inc. saw a decrease in premarket trading in reaction to its $1 billion convertible note offering.
The $1 billion convertible note offering and subsequent decrease in premarket trading indicates a negative short-term impact on Nio, Inc.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEUTRAL IMPACT
Apogee Enterprises, Inc. is in focus as it is among the companies reporting earnings ahead of the market open.
The upcoming earnings report puts Apogee Enterprises, Inc. in focus, but without specific details, the short-term impact is neutral.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70
NEUTRAL IMPACT
AutoZone, Inc. is in focus as it is among the companies reporting earnings ahead of the market open.
The upcoming earnings report puts AutoZone, Inc. in focus, but without specific details, the short-term impact is neutral.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
The Invesco QQQ ETF saw a slight gain in premarket trading.
The slight gain in premarket trading indicates a positive short-term impact on the QQQ ETF.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The SPDR S&P 500 ETF Trust saw a slight gain in premarket trading.
The slight gain in premarket trading indicates a positive short-term impact on the SPY ETF.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
United States Steel Corporation saw a rise in premarket trading following a positive preannouncement.
The positive preannouncement and subsequent rise in premarket trading indicates a positive short-term impact on United States Steel Corporation.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90