Nasdaq, S&P 500 Futures Flatline As Traders Play Waiting Game Ahead Of Key Data
Portfolio Pulse from Shanthi Rexaline
Stock futures indicate a cautious sentiment as traders await consumer confidence and house price data, along with Fed speeches. The energy sector may benefit from oil's rebound ahead of the OPEC+ meeting. The S&P 500 is trading above analysts' 12-month consensus forecast, which is seen as a bullish signal. Retail stocks are in focus due to Cyber Monday sales, while several companies including Zscaler, PDD Holdings, CrowdStrike, Hewlett Packard Enterprise, Intuit, Splunk, NetApp, and Workday are set to report earnings. Crude oil futures are up, and Bitcoin has risen above $37,000.
November 28, 2023 | 12:06 pm
News sentiment analysis
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NEGATIVE IMPACT
Zscaler, Inc. saw its stock fall about 6.50% in premarket trading following the release of its quarterly results, indicating a negative short-term impact.
The premarket decline in Zscaler's stock price following its earnings release suggests a negative investor response, likely impacting the stock's short-term performance.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
NEUTRAL IMPACT
CrowdStrike Holdings, Inc. is among the companies reporting earnings after the bell, which could influence its stock price depending on the outcome.
CrowdStrike's upcoming earnings report is a key event that could affect its stock price, but the impact will be determined by the earnings quality and guidance.
CONFIDENCE 65
IMPORTANCE 75
RELEVANCE 70
NEUTRAL IMPACT
Hewlett Packard Enterprise Company is scheduled to release its earnings after the market closes, potentially impacting its stock price in the short term.
Hewlett Packard Enterprise's post-market earnings announcement could lead to stock price movements based on the report's content and future outlook.
CONFIDENCE 65
IMPORTANCE 75
RELEVANCE 70
NEUTRAL IMPACT
Intuit Inc. is expected to report earnings after the closing bell, which could cause short-term fluctuations in its stock price.
Investors are awaiting Intuit's earnings, which will likely lead to short-term price movements as the market digests the results and forward guidance.
CONFIDENCE 65
IMPORTANCE 75
RELEVANCE 70
NEUTRAL IMPACT
NetApp, Inc. is set to announce earnings after the closing bell, which could affect its stock price in the short term based on the results.
NetApp's earnings announcement is a key event for investors, with potential stock price impact depending on the financial outcomes and projections.
CONFIDENCE 65
IMPORTANCE 75
RELEVANCE 70
NEUTRAL IMPACT
PDD Holdings Inc. is set to report earnings before the market opens, which could lead to increased volatility and a potential impact on its stock price.
The anticipation of PDD Holdings' earnings report may cause short-term volatility, but the direction of the impact will depend on the actual results and investor sentiment.
CONFIDENCE 65
IMPORTANCE 75
RELEVANCE 70
NEUTRAL IMPACT
Splunk Inc. is on the earnings calendar to report after the market close, with potential implications for its stock price based on the report.
Splunk's earnings release after the market close is a significant event that could influence its stock price, depending on the reported figures and guidance.
CONFIDENCE 65
IMPORTANCE 75
RELEVANCE 70
NEUTRAL IMPACT
Workday, Inc. is among the companies reporting earnings after market close, which could lead to short-term movements in its stock price.
Workday's earnings report after the market close will be closely watched by investors, with potential implications for its stock price based on the financials and outlook.
CONFIDENCE 65
IMPORTANCE 75
RELEVANCE 70
POSITIVE IMPACT
Invesco QQQ ETF may experience a slight positive impact as Nasdaq futures are nearly flat, but the overall cautious market sentiment could limit gains.
While Nasdaq futures are not showing significant movement, the cautious optimism in the market could lead to a modest positive impact on QQQ.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
SPDR S&P 500 ETF Trust may see a positive impact due to the S&P 500 trading above the 12-month consensus forecast, indicating a bullish sentiment among traders.
The S&P 500's performance above analyst expectations suggests a positive market sentiment, which could lead to increased investor confidence in the SPY ETF.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80