Wall Street Sell-Off Worsens, VIX Spikes As Bond Yields Rise Further, Dollar Strengthens: What's Driving Markets Tuesday?
Portfolio Pulse from Shanthi Rexaline
The S&P 500 and Nasdaq futures are wavering as the market turns its focus to the JOLTS data. Analysts from LPL Financial suggest that expecting a strong Q4 this year could be tricky due to factors such as a potential government shutdown, high interest rates, and a strong dollar. The SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ ETF (QQQ) saw slight increases in premarket trading. Stocks in focus include ALX Oncology Holdings (ALXO), Nvidia Corp (NVDA), McCormick & Company (MKC), and Cal-Maine Foods (CALM).
October 03, 2023 | 10:54 am
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NEUTRAL IMPACT
Cal-Maine Foods (CALM) is due to report quarterly earnings Tuesday.
The upcoming earnings report could influence CALM's stock price, but without specific information, the short-term impact is uncertain.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70
NEUTRAL IMPACT
McCormick & Company (MKC) is due to report quarterly earnings Tuesday.
The upcoming earnings report could influence MKC's stock price, but without specific information, the short-term impact is uncertain.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
ALX Oncology Holdings (ALXO) shares jumped over 21% in premarket trading after the company announced it would report interim Phase 2 ASPEN-06 clinical trial results.
The announcement of the interim Phase 2 ASPEN-06 clinical trial results has led to a significant increase in ALXO's share price in premarket trading, suggesting a positive short-term impact.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Nvidia Corp (NVDA) could be in focus after KeyBanc’s John Vinh raised the price target for the stock from $670 to $750.
The raised price target by KeyBanc’s John Vinh suggests a positive short-term impact on NVDA's stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
The Invesco QQQ ETF (QQQ) saw a slight increase in premarket trading.
The slight increase in premarket trading suggests a positive short-term impact on the QQQ ETF.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) saw a slight increase in premarket trading.
The slight increase in premarket trading suggests a positive short-term impact on the SPY ETF.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80