US Stocks Eye Longest Winning Streak In 2 Years, Oil Tumbles: What's Driving Markets Tuesday?
Portfolio Pulse from Shanthi Rexaline
The S&P 500 and Nasdaq are set to break their 6-day rally as stock futures indicate a lower opening on Tuesday. The day is expected to be dominated by a series of Federal Reserve speeches. The SPDR S&P 500 ETF Trust (NYSE:SPY) slipped 0.36% to $434.10 and the Invesco QQQ ETF (NASDAQ:QQQ) fell 0.31% to $368.07 in premarket trading. Several companies including Alteryx, Inc. (NYSE:AYX), Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX), and Sanmina Corporation (NASDAQ:SANM) saw significant movement in premarket trading following their earnings reports.
November 07, 2023 | 12:15 pm
News sentiment analysis
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NEGATIVE IMPACT
The Invesco QQQ ETF (NASDAQ:QQQ) fell 0.31% to $368.07 in premarket trading, potentially indicating a break in the recent rally.
The QQQ ETF is directly tied to the performance of the Nasdaq. The dip in premarket trading indicates a potential break in the recent rally, which could impact the ETF's short-term performance.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The SPDR S&P 500 ETF Trust (NYSE:SPY) slipped 0.36% to $434.10 in premarket trading, potentially indicating a break in the recent rally.
The SPY ETF is directly tied to the performance of the S&P 500. The dip in premarket trading indicates a potential break in the recent rally, which could impact the ETF's short-term performance.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Alteryx, Inc. (NYSE:AYX) rallied over 17% in premarket trading following the release of its quarterly results.
Alteryx's stock price rallied in premarket trading following the release of its quarterly results. This indicates a positive reaction from investors, which could lead to a short-term increase in the stock's price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90