Traders Hold Breath For Powell's Remarks, Bitcoin's Wild Ride Unleashed: What's Driving Markets Thursday?
Portfolio Pulse from Shanthi Rexaline
The stock market's momentum appears to be waning with futures suggesting a mixed opening for Thursday. Earnings reports have generally been positive, with companies like Walt Disney Co. posting encouraging quarterly results. Bond yields have started to rise in anticipation of the IMF panel discussion, featuring Federal Reserve Chair Jerome Powell. Morgan Stanley's Lisa Shalett remains wary of a potential slowing in economic growth, the specter of sticky inflation, the overall market trend remaining sideways and uninspiring, and the stresses emerging in the high-yield or speculative grade credit.
November 09, 2023 | 12:25 pm
News sentiment analysis
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NEGATIVE IMPACT
In premarket trading on Thursday, the Invesco QQQ ETF slipped 0.06% to $372.70.
The slight decrease in the Invesco QQQ ETF in premarket trading indicates a negative sentiment towards the Nasdaq 100 index.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Walt Disney Co. posted encouraging quarterly results which could provide support to the 30-stock Dow Industrials Average.
Disney's strong earnings report could positively impact its stock price and provide support to the Dow Industrials Average.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
In premarket trading on Thursday, the SPDR S&P 500 ETF Trust rose 0.10% to $437.70.
The rise in the SPDR S&P 500 ETF Trust in premarket trading indicates a positive sentiment towards the S&P 500 index.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70