Tech Stocks Soar, Microsoft Reaches Record High As AI Rally Resumes: What's Driving Markets Friday?
Portfolio Pulse from Shanthi Rexaline
US stocks are expected to open lower on Friday due to concerns over interest rates and disappointing earnings reports. Federal Reserve Chair Jerome Powell's comments on inflation and interest rates have increased market uncertainty. Powell suggested another rate hike may be necessary if inflation doesn't pull back at a faster pace. In premarket trading, the SPDR S&P 500 ETF Trust (NYSE:SPY) and the Invesco QQQ ETF (NASDAQ:QQQ) fell. Stocks in focus include Plug Power, Inc. (NASDAQ:PLUG), which plunged over 29% in premarket trading following its third-quarter miss and “going concern” warning.
November 10, 2023 | 12:08 pm
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NEGATIVE IMPACT
Plug Power, Inc. plunged over 29% in premarket trading following its third-quarter miss and “going concern” warning.
The company's poor Q3 results and warning about its ability to continue as a going concern are likely to have a significant negative impact on its stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
The Invesco QQQ ETF fell in premarket trading due to market uncertainty over interest rates and inflation.
The ETF is likely to be negatively impacted by the overall market uncertainty and concerns over interest rates and inflation.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The SPDR S&P 500 ETF Trust fell in premarket trading due to market uncertainty over interest rates and inflation.
The ETF is likely to be negatively impacted by the overall market uncertainty and concerns over interest rates and inflation.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80