PepsiCo On CNBC's 'Final Trades,' Plus: A Food & Beverage ETF Has 9 Negative Weeks
Portfolio Pulse from Priya Nigam
PepsiCo shares fell around 5% due to Walmart indicating a decrease in shopping demand due to the use of appetite-suppressing medications. The First Trust Nasdaq Food & Beverage ETF (FTXG) fell by over 5% last week, marking its third consecutive week of losses. The Materials Select Sector SPDR Fund (XLB) gained 0.9%, while the Consumer Staples Select Sector SPDR Fund (XLP) lost 0.6% on Friday.
October 09, 2023 | 12:48 pm
News sentiment analysis
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POSITIVE IMPACT
The Materials Select Sector SPDR Fund (XLB) gained 0.9% on Friday.
The ETF gained on Friday, indicating a positive market sentiment towards the materials sector.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
The First Trust Nasdaq Food & Beverage ETF (FTXG) fell by over 5% last week.
The ETF has been on a downward trend, marking its third consecutive week of losses. This is likely due to the overall challenging conditions in the food and beverage industry.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
PepsiCo shares fell around 5% due to decreased shopping demand.
The decrease in shopping demand, possibly due to the use of appetite-suppressing medications, has negatively impacted PepsiCo's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The Consumer Staples Select Sector SPDR Fund (XLP) lost 0.6% on Friday.
The ETF lost on Friday, indicating a negative market sentiment towards the consumer staples sector.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100