Stocks On Shaky Ground As Traders Tread Lightly Ahead of Friday's Jobs Data: What's Driving Markets Thursday?
Portfolio Pulse from Shanthi Rexaline
The US stock market is expected to open slightly lower on Thursday, following a recovery on Wednesday. The dollar and crude oil are surging in tandem, which could impact economies, industries, and consumers. This could challenge corporate profits, especially for US exporters and multinationals, as higher oil prices increase costs and a stronger dollar makes their products less competitive. In premarket trading, the SPDR S&P 500 ETF Trust (NYSE:SPY) edged down 0.07% and the Invesco QQQ ETF (NASDAQ:QQQ) edged up 0.01%. Stocks in focus include Sirius XM Holdings Inc. (NASDAQ:SIRI), The Clorox Company (NYSE:CLX), Rivian Automotive, Inc. (NASDAQ:RIVN), Conagra Brands, Inc. (NYSE:CAG), Constellation Brands, Inc. (NYSE:STZ), and Levi Strauss & Co. (NYSE:LEVI).
October 05, 2023 | 11:16 am
News sentiment analysis
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POSITIVE IMPACT
The Invesco QQQ ETF edged up 0.01% in premarket trading.
The ETF is expected to open slightly higher due to the overall market sentiment.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Conagra Brands, Inc. is due to report their quarterly results ahead of the market open.
The stock's performance will depend on the company's quarterly results.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Levi Strauss & Co. will report its earnings after the market close.
The stock's performance will depend on the company's earnings report.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Constellation Brands, Inc. is due to report their quarterly results ahead of the market open.
The stock's performance will depend on the company's quarterly results.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
The Clorox Company fell nearly 4.5% in reaction to its negative preannouncement.
The stock is expected to open lower due to the company's negative preannouncement.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Rivian Automotive, Inc. slumped about 8.5% after the electric vehicle startup announced a $1.5 billion green bond offering.
The stock is expected to open lower due to the company's announcement of a green bond offering.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Sirius XM Holdings Inc. fell over 14% in premarket trading.
The stock is expected to open lower due to negative market sentiment.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
The SPDR S&P 500 ETF Trust edged down 0.07% in premarket trading.
The ETF is expected to open lower due to the overall market sentiment.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80