US Stocks Set To Snap Winning Streak, Treasuries Rally, Oil Tumbles: What's Driving Markets Wednesday?
Portfolio Pulse from Shanthi Rexaline
US stock futures indicate a flat opening after several consecutive gains. Traders are awaiting Federal Reserve Chair Jerome Powell’s speech for insights into possible rate cuts. Media earnings, including Walt Disney Co., are in focus. Bond yields remain stable, reflecting dovish messages from Fed officials. The S&P 500 and the Nasdaq Composite had their longest winning streak since November 2021. In premarket trading, the SPDR S&P 500 ETF Trust ticked up 0.04% and the Invesco QQQ ETF edged down 0.01%. Several companies including Rivian Automotive, Lucid Group, Akamai Technologies, eBay, GoPro, H&R Block, IAC Inc., and Upstart Holdings reported earnings.
November 08, 2023 | 12:12 pm
News sentiment analysis
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NEGATIVE IMPACT
The Invesco QQQ ETF edged down 0.01% in premarket trading.
The slight decrease in the Invesco QQQ ETF in premarket trading could indicate a negative opening for the Nasdaq.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 75
NEUTRAL IMPACT
Disney's earnings are in focus today, which could impact its stock price.
The anticipation of Disney's earnings report could cause volatility in its stock price.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
The SPDR S&P 500 ETF Trust ticked up 0.04% in premarket trading.
The slight increase in the SPDR S&P 500 ETF Trust in premarket trading could indicate a positive opening for the S&P 500.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 75