US Stocks Sink, VIX Soars As Overheated Economy, Mixed Earnings Complicate Fed's Path: What's Driving Markets Thursday?
Portfolio Pulse from Shanthi Rexaline
Stock futures dipped early Thursday, with Meta Platforms, Inc.‘s (NASDAQ:META) impressive results failing to satisfy investors. Amazon, Inc. (NASDAQ:AMZN) is set to release its quarterly results after the market close. The third-quarter GDP report is expected to reveal the fastest growth since late 2021. Factors like Alphabet, Inc.‘s (NASDAQ:GOOGL) (NASDAQ:GOOG) underwhelming Cloud revenue, surging bond yields, rising oil prices, and robust new home sales for September unnerved traders. The SPDR S&P 500 ETF Trust (NYSE:SPY) fell 0.61% to $415 and the Invesco QQQ ETF (NASDAQ:QQQ) plunged 0.91% to $347.14.
October 26, 2023 | 11:38 am
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NEUTRAL IMPACT
Amazon is set to release its quarterly results after the market close.
The impact on Amazon's stock will depend on the results of its quarterly earnings report.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Alphabet's underwhelming Cloud revenue unnerved traders.
Alphabet's underwhelming Cloud revenue is expected to negatively impact its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Meta's impressive results failed to satisfy investors, leading to a dip in stock futures.
Despite impressive results, Meta's stock is expected to dip as the results did not meet investor expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The Invesco QQQ ETF plunged 0.91% to $347.14.
The Invesco QQQ ETF is expected to continue its downward trend.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The SPDR S&P 500 ETF Trust fell 0.61% to $415.
The SPDR S&P 500 ETF Trust is expected to continue its downward trend.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100