Nasdaq, S&P 500 Futures Rise Ahead Of Inflation Data: Analyst Sees Smooth Finish To 2024 If Week's Key Events Align With Expectations
Portfolio Pulse from Shanthi Rexaline
U.S. stock futures, including Nasdaq and S&P 500, are up ahead of the November consumer price inflation report. A softer inflation reading could prompt a rally if it aligns with expectations for a less hawkish Federal Reserve. Despite positive market performance on Monday, corporate updates have been negative, potentially affecting sector stocks. SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ ETF (QQQ) saw premarket gains. Lucid Group (LCID) dropped after its CFO's resignation, Oracle (ORCL) slumped following quarterly results, and Hasbro (HAS) declined after announcing job cuts. FuelCell Energy (FCEL) and Johnson Controls (JCI) are set to report earnings.
December 12, 2023 | 12:25 pm
News sentiment analysis
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POSITIVE IMPACT
Invesco QQQ ETF (QQQ) gained 0.16% in premarket trading, with potential gains hinging on the upcoming inflation data and Fed's policy outlook.
QQQ, mirroring the Nasdaq 100, may see short-term gains if the inflation report is mild and the Fed signals a readiness to slow down rate hikes.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
SPDR S&P 500 ETF Trust (SPY) rose 0.04% in premarket trading, potentially benefiting from a positive inflation report and a less hawkish Fed outlook.
SPY, which tracks the S&P 500, is likely to be positively impacted in the short term by the anticipation of a favorable inflation report and the possibility of a less aggressive interest rate policy by the Fed.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
FuelCell Energy, Inc. (FCEL) is set to release quarterly results, which will likely influence its stock price depending on whether the results meet, exceed, or fall short of market expectations.
FCEL's upcoming earnings report creates uncertainty, as the stock price could move in either direction based on the financial outcomes relative to expectations.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 70
NEUTRAL IMPACT
Johnson Controls International plc (JCI) is also due to report earnings, with potential stock movement contingent on the company's financial performance.
Like FCEL, JCI's stock price will be impacted by its earnings report, but the direction is uncertain until the actual figures are disclosed and compared to market expectations.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 70
NEGATIVE IMPACT
Hasbro, Inc. (HAS) declined more than 5% after announcing job cuts, which could reflect concerns over the company's cost-cutting measures and future growth.
The announcement of job cuts by HAS may lead to negative investor sentiment due to worries about the company's cost structure and long-term strategy, affecting the stock price negatively in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 85
NEGATIVE IMPACT
Lucid Group, Inc. (LCID) fell about 2.4% in premarket trading after announcing the resignation of its CFO, which could negatively impact investor sentiment.
The resignation of LCID's CFO is a significant event that could lead to short-term negative sentiment and a decrease in stock price due to uncertainty about financial management.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90
NEGATIVE IMPACT
Oracle Corp. (ORCL) slumped over 8.50% in reaction to its quarterly results, indicating a negative market response to the company's financial performance.
ORCL's significant drop in premarket trading due to its quarterly results suggests a strong negative impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 95