Shutdown Averted, Treasury Yields Flirt With 5%, Strong Payrolls Add to Fed Tightening Risk: The Week In The Markets
Portfolio Pulse from Piero Cingari
The US Congress averted a government shutdown by passing a stopgap funding bill. Treasury yields surged, with the 10-year yield reaching its highest level in 16 years. This has led to a significant loss in value for funds and ETFs investing in long-dated Treasury bonds. The September jobs report exceeded expectations, indicating a strong labor market and increasing the risk of further Federal Reserve tightening. Walmart reported a decrease in food demand due to the use of weight-loss drugs. Exxon Mobil is considering acquiring Pioneer Natural Resources. The S&P 500 and Nasdaq 100 rebounded from weeks of declines. Several sectors and mega-cap stocks displayed strength this week.
October 06, 2023 | 8:14 pm
News sentiment analysis
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NEGATIVE IMPACT
Shares of The Coca-Cola Company had their worst-performing week since May 2022.
The company's stock performance is directly mentioned in the news.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
NextEra Energy Inc. was down over 12% for the week.
The company's stock performance is directly mentioned in the news.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Shares of PepsiCo Inc. had their worst-performing week since May 2022.
The company's stock performance is directly mentioned in the news.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
The iShares 20+ Year Treasury Bond ETF has lost more than 50% of its value since March 2020 due to rising Treasury yields.
The fund's value is directly tied to the performance of long-dated Treasury bonds, which have been negatively impacted by rising yields.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
The PIMCO 25 Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund has lost more than 50% of its value since March 2020 due to rising Treasury yields.
The fund's value is directly tied to the performance of long-dated Treasury bonds, which have been negatively impacted by rising yields.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEUTRAL IMPACT
Novo Nordisk's weight-loss drugs are contributing to a decrease in food demand at Walmart.
While the news is indirectly related to Novo Nordisk, it could potentially impact the company's reputation and sales.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Alphabet Inc. posted gains exceeding 5% this week.
The company's stock performance is directly mentioned in the news.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Alphabet Inc. posted gains exceeding 5% this week.
The company's stock performance is directly mentioned in the news.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Eli Lilly & Company posted gains exceeding 5% this week.
The company's stock performance is directly mentioned in the news.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Meta Platforms Inc. posted gains exceeding 5% this week.
The company's stock performance is directly mentioned in the news.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Nvidia Corp. posted gains exceeding 5% this week.
The company's stock performance is directly mentioned in the news.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Shares of Pioneer Natural Resources rose by as much as 10% on Friday following news of a potential acquisition by Exxon Mobil.
The company's stock performance is directly mentioned in the news.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
The Nasdaq 100, monitored via the Invesco QQQ Trust, posted weekly gains and recorded its strongest session since late August on Friday.
The fund's performance is directly tied to the performance of the Nasdaq 100, which posted gains this week.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
The S&P 500, tracked by the SPDR S&P 500 ETF Trust, rebounded from four consecutive weeks of declines.
The fund's performance is directly tied to the performance of the S&P 500, which rebounded this week.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
The Communication Services Select Sector SPDR Fund gained 2.1% this week.
The fund's performance is directly mentioned in the news.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
The Technology Select Sector SPDR Fund rose by 3% this week.
The fund's performance is directly mentioned in the news.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
The Health Care Select Sector SPDR Fund registered a 1.1% increase this week.
The fund's performance is directly mentioned in the news.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Exxon Mobil is considering acquiring Pioneer Natural Resources, which could strengthen its position in the US energy sector.
The potential acquisition could significantly impact Exxon Mobil's market position and stock performance.
CONFIDENCE 75
IMPORTANCE 100
RELEVANCE 100