US Stocks Sink On Tech-Led Selloff, Treasury Yields Surge Again: What's Driving Markets Wednesday?
Portfolio Pulse from Shanthi Rexaline
Mixed earnings have led to a dampened risk appetite in the market, with Microsoft's positive report contrasting Alphabet's underwhelming cloud revenue growth. The focus now shifts to Meta Platforms, which is due to report after the close. Analysts stress the importance of robust corporate profit growth to sustain valuations, especially with rising bond yields. The S&P 500 Index broke a five-session losing streak, while the Nasdaq Composite recorded gains for the second consecutive session. In premarket trading, the SPDR S&P 500 ETF Trust slipped 0.34% and the Invesco QQQ ETF fell 0.55%.
October 25, 2023 | 11:07 am
News sentiment analysis
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POSITIVE IMPACT
Microsoft's positive earnings report was well-received by the market.
Microsoft's better-than-expected earnings report has likely boosted investor confidence in the company, potentially leading to a short-term increase in its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
The market is closely watching Meta Platforms' upcoming earnings report.
The market is closely watching Meta Platforms' upcoming earnings report, which could significantly impact its stock price depending on the results.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Alphabet's underwhelming cloud revenue growth was not well-received by investors.
Alphabet's disappointing cloud revenue growth may have negatively impacted investor sentiment, potentially leading to a short-term decrease in its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The Invesco QQQ ETF fell 0.55% in premarket trading.
The Invesco QQQ ETF's decrease in premarket trading may indicate a short-term decrease in its price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The SPDR S&P 500 ETF Trust slipped 0.34% in premarket trading.
The SPDR S&P 500 ETF Trust's decrease in premarket trading may indicate a short-term decrease in its price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80