Shares of industrial companies are trading lower amid overall market weakness following a rise in Treasury yields after yesterday's FOMC statement. Also, weekly initial jobless claims data came in below estimates, which could encourage more rate hikes.
Portfolio Pulse from Benzinga Newsdesk
Industrial stocks are trading lower due to overall market weakness following a rise in Treasury yields after the FOMC statement. The lower-than-expected weekly jobless claims data could encourage more rate hikes.
September 21, 2023 | 5:15 pm
News sentiment analysis
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NEGATIVE IMPACT
AAON's stock is likely to be negatively impacted by the overall market weakness and potential rate hikes.
As an industrial company, AAON's stock is likely to be affected by the overall market trends. The rise in Treasury yields and potential rate hikes could negatively impact the stock.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
NEGATIVE IMPACT
DE's stock is likely to be negatively impacted by the overall market weakness and potential rate hikes.
As an industrial company, DE's stock is likely to be affected by the overall market trends. The rise in Treasury yields and potential rate hikes could negatively impact the stock.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
NEGATIVE IMPACT
UPWK's stock is likely to be negatively impacted by the overall market weakness and potential rate hikes.
As an industrial company, UPWK's stock is likely to be affected by the overall market trends. The rise in Treasury yields and potential rate hikes could negatively impact the stock.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50