Nasdaq, S&P 500 Futures Drop As Apple Guidance Disappoints: Analyst Says 'Seasonal Rally' Right On Queue
Portfolio Pulse from Shanthi Rexaline
The market mood has turned cautious after Apple's disappointing guidance, with traders likely taking profits. Most other earnings reports have been better than expected. The extended slide in bond yields and positive earnings reports served as upside catalysts. The S&P 500 Index rose by the most since April. In premarket trading on Friday, the SPDR S&P 500 ETF Trust slipped 0.16% and the Invesco QQQ ETF fell 0.40%. Apple shares fell over 3% in premarket trading following the company’s first-quarter guidance for flat revenue performance.
November 03, 2023 | 11:35 am
News sentiment analysis
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NEGATIVE IMPACT
Apple's shares fell over 3% in premarket trading following the company’s first-quarter guidance for flat revenue performance.
Apple's disappointing guidance for the first quarter has led to a drop in its share price. This could potentially impact the company's short-term stock performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
In premarket trading on Friday, the Invesco QQQ ETF fell 0.40%.
The Invesco QQQ ETF's price has fallen in premarket trading, which could potentially impact its short-term performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
In premarket trading on Friday, the SPDR S&P 500 ETF Trust slipped 0.16%.
The SPDR S&P 500 ETF Trust's price has slipped in premarket trading, which could potentially impact its short-term performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100