Buying In Stocks On Pullback In Yields, Rush To Buy Bitcoin
Portfolio Pulse from The Arora Report
The pullback in yields is bringing in buyers to the stock market, with notable earnings reports from Microsoft Corp and Alphabet Inc Class C expected after market close. Earnings from Coca-Cola Co, Verizon Communications Inc., Rtx Corp, Dow Inc, 3M Co, Sherwin-Williams Co, General Motors Co, and General Electric Co are better than expected, while earnings from HCA Healthcare Inc, AGNC Investment Corp, Corning Incorporated, Packaging Corp Of America, and Polaris Inc are worse than expected. Positive money flows are observed in Microsoft, Alphabet, Meta Platforms Inc, Amazon.com, Inc., NVIDIA Corp, and Tesla Inc, while neutral in Apple Inc, and mixed in SPDR S&P 500 ETF Trust and Invesco QQQ Trust Series 1. The article also mentions buying in Bitcoin and speculative stocks.
October 24, 2023 | 3:14 pm
News sentiment analysis
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NEGATIVE IMPACT
iShares 7-10 Year Treasury Bond ETF has been in a downtrend, indicating that the yield on 10 year Treasuries has been rising. This has been putting pressure on the stock market.
The rising yield on 10 year Treasuries, indicated by the downtrend of IEF, has been putting pressure on the stock market.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEUTRAL IMPACT
Alphabet Inc Class C is expected to report earnings after market close, which could impact its stock price.
The anticipation of the earnings report could cause volatility in the stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Microsoft Corp is expected to report earnings after market close, which could impact its stock price.
The anticipation of the earnings report could cause volatility in the stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Money flows are mixed in Invesco QQQ Trust Series 1.
The mixed money flows could indicate uncertainty among investors.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Money flows are mixed in SPDR S&P 500 ETF Trust.
The mixed money flows could indicate uncertainty among investors.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Bitcoin is seeing increased buying, potentially due to the anticipation of a spot bitcoin ETF approval.
The anticipation of a spot bitcoin ETF approval could be driving increased buying in Bitcoin.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 90