Nasdaq, S&P 500 Futures Flat Ahead Of 2023's Final Session As Broader Market Eyes Record Close: Analyst Says 'Sellers Already Done'
Portfolio Pulse from Shanthi Rexaline
Ahead of the final trading session of 2023, Nasdaq and S&P 500 futures are flat, with the broader market potentially setting a record close. The S&P 500 is close to an all-time high, and the market is expected to have low volume due to the New Year holiday. Thursday's trading closed mixed, with the S&P 500 nearing its record and Nasdaq slightly down. Analyst Louis Navellier predicts AI to be a major theme and expects energy, consumer staples, utilities, and healthcare to do well in 2024. SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ ETF (QQQ) saw slight premarket gains. Tesla (TSLA) is up in premarket trading, while Lyft (LYFT) and Uber (UBER) are down. Economic data to watch includes the Chicago ISM manufacturing survey.
December 29, 2023 | 12:45 pm
News sentiment analysis
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POSITIVE IMPACT
Invesco QQQ ETF (QQQ) experienced a minor gain in premarket trading, reflecting cautious optimism as the Nasdaq shows a flat open.
QQQ's premarket gain, although small, could indicate investor confidence in tech stocks, which heavily influence the Nasdaq. However, the flat futures suggest limited short-term movement.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
SPDR S&P 500 ETF Trust (SPY) saw a slight increase in premarket trading, indicating a stable outlook as the S&P 500 approaches a record close.
SPY is directly tied to the performance of the S&P 500, which is nearing a record high. The slight premarket increase suggests a positive outlook, but low trading volume due to the holiday may limit significant movement.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Tesla, Inc. (TSLA) is up over 0.80% in premarket trading, rebounding from the previous session's losses, signaling positive investor sentiment.
TSLA's premarket rise suggests a positive short-term impact, likely due to investors' optimism and the stock's recovery from recent losses.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90
NEGATIVE IMPACT
Lyft, Inc. (LYFT) fell nearly 3% in premarket trading, indicating potential negative sentiment and a possible decrease in stock price in the short term.
LYFT's premarket decline suggests a negative short-term impact on the stock price, possibly due to investor concerns or market conditions.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90
NEGATIVE IMPACT
Uber Technologies, Inc. (UBER) moved down over 1% in premarket trading, which may reflect short-term negative investor sentiment.
UBER's premarket drop could lead to a short-term negative impact on its stock price, potentially due to the same factors affecting LYFT.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 90