Shares of auto stocks 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 potentially encourage more rate hikes.
Portfolio Pulse from Benzinga Newsdesk
EV stocks are trading lower due to overall market weakness following a rise in Treasury yields after the FOMC statement. The lower-than-expected weekly initial jobless claims data could potentially encourage more rate hikes.
September 21, 2023 | 6:48 pm
News sentiment analysis
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NEGATIVE IMPACT
APTV's stock is trading lower due to overall market weakness and potential rate hikes.
The rise in Treasury yields and potential rate hikes due to lower jobless claims data are causing a downturn in the overall market, impacting APTV's stock negatively.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
AYRO's stock is trading lower due to overall market weakness and potential rate hikes.
The rise in Treasury yields and potential rate hikes due to lower jobless claims data are causing a downturn in the overall market, impacting AYRO's stock negatively.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
CJET's stock is trading lower due to overall market weakness and potential rate hikes.
The rise in Treasury yields and potential rate hikes due to lower jobless claims data are causing a downturn in the overall market, impacting CJET's stock negatively.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
LCID's stock is trading lower due to overall market weakness and potential rate hikes.
The rise in Treasury yields and potential rate hikes due to lower jobless claims data are causing a downturn in the overall market, impacting LCID's stock negatively.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
NIO's stock is trading lower due to overall market weakness and potential rate hikes.
The rise in Treasury yields and potential rate hikes due to lower jobless claims data are causing a downturn in the overall market, impacting NIO's stock negatively.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
VFS's stock is trading lower due to overall market weakness and potential rate hikes.
The rise in Treasury yields and potential rate hikes due to lower jobless claims data are causing a downturn in the overall market, impacting VFS's stock negatively.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
XPEV's stock is trading lower due to overall market weakness and potential rate hikes.
The rise in Treasury yields and potential rate hikes due to lower jobless claims data are causing a downturn in the overall market, impacting XPEV's stock negatively.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100