Shares of software and IT stocks are trading lower after the 10-year Treasury yield briefly crossed 5% before pulling back in Friday's session. Weakness in Oracle following its AI Executive Forum may also be weighing on some of its peers.
Portfolio Pulse from Benzinga Newsdesk
Software and IT stocks are trading lower after the 10-year Treasury yield briefly crossed 5%. Oracle's weakness following its AI Executive Forum may also be impacting its peers.
October 20, 2023 | 4:27 pm
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NEGATIVE IMPACT
Adobe's stock may be trading lower due to the rise in the 10-year Treasury yield and Oracle's performance.
The rise in the 10-year Treasury yield and Oracle's performance could be negatively impacting Adobe's stock.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
CrowdStrike's stock may be trading lower due to the rise in the 10-year Treasury yield and Oracle's performance.
The rise in the 10-year Treasury yield and Oracle's performance could be negatively impacting CrowdStrike's stock.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Oracle's stock is trading lower following its AI Executive Forum, potentially impacting its peers.
Oracle's performance following its AI Executive Forum is likely causing a negative impact on its stock. This could also be influencing the performance of its peers in the software and IT sector.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100