US Stocks Rise As Tech Rebounds On Lower Treasury Yields, UAW Strikes Widen: What's Driving Markets Friday?
Portfolio Pulse from Shanthi Rexaline
Markets are set to rebound after three days of losses, with optimism seen in Friday's trading. Rising Treasury yields have dampened risk appetite, pushing major indices lower for the third consecutive session. However, Carson Group analyst Ryan Detrick suggests that the market could rebound in October based on historical data. In premarket trading, the SPDR S&P 500 ETF Trust and the Invesco QQQ ETF saw gains. Stocks in focus include Activision Blizzard, United States Steel Corporation, Alibaba Group, JD.com, Palantir Technologies, Amazon, and Nvidia.
September 22, 2023 | 11:19 am
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POSITIVE IMPACT
Amazon was seen rebounding in premarket trading.
The rebound in premarket trading suggests a positive short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Activision Blizzard stock rose over 1.70% in premarket after the U.K. antitrust agency said a newly structured deal substantially addresses its concern regarding cloud gaming.
The positive news from the U.K. antitrust agency is likely to have a positive short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Alibaba Group rallied over 4% after a Bloomberg report said China was considering relaxing rules that cap foreign ownership in domestic publicly traded companies.
The potential relaxation of foreign ownership rules in China is likely to have a positive short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
JD.com climbed about 3.70% after a Bloomberg report said China was considering relaxing rules that cap foreign ownership in domestic publicly traded companies.
The potential relaxation of foreign ownership rules in China is likely to have a positive short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Nvidia was seen rebounding in premarket trading.
The rebound in premarket trading suggests a positive short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Palantir Technologies was seen rebounding in premarket trading.
The rebound in premarket trading suggests a positive short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The Invesco QQQ ETF gained 0.50% in premarket trading.
The rise in premarket trading suggests a positive short-term impact on the ETF.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The SPDR S&P 500 ETF Trust rose 0.28% in premarket trading.
The rise in premarket trading suggests a positive short-term impact on the ETF.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
United States Steel Corporation gained about 1.50% after reports said Canadian steelmaker Stelco is considering a bid for the former.
The potential bid from Stelco is likely to have a positive short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90