US Stocks Set For Mixed Open As Traders Await Tech Earnings Deluge, Central Bank Meeting: Analyst Says Fed Will Talk Tough For While Longer
Portfolio Pulse from Shanthi Rexaline
U.S. stocks are set for a mixed open as investors await a series of tech earnings and the Federal Reserve meeting. Big tech companies like Microsoft, Alphabet, Amazon, Meta Platforms, and Apple are reporting earnings, with AI-focused firms expected to perform well. Last week, stock indices gained, with the S&P 500 and Dow closing near record levels. The Fed is expected to maintain high rates, with Chair Powell likely to continue a tough stance on inflation. Futures are slightly up, with SPY and QQQ showing modest gains in premarket trading. Stocks like AMD, Boeing, and SoFi are in focus with upcoming earnings, while China Evergrande's liquidation adds to concerns about China's property sector.
January 29, 2024 | 12:23 pm
News sentiment analysis
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POSITIVE IMPACT
Apple's earnings are awaited with the tech sector's positive momentum, especially in AI, likely to influence its stock positively.
Apple's stock may see a short-term uplift due to the positive sentiment in tech earnings and the company's potential in AI.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Amazon's upcoming earnings report is highly anticipated, with potential outperformance in AI possibly driving its stock higher.
Amazon's focus on AI and the positive sentiment in tech earnings could lead to a short-term rise in its stock price.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Alphabet is set to report earnings, with the market optimistic about tech, especially AI, which may positively impact its stock.
Alphabet's earnings could benefit from the current market optimism around tech and AI, suggesting a positive short-term impact on its stock.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Meta Platforms is among the tech giants reporting earnings, with a positive outlook on AI potentially benefiting its stock.
With the market's optimism towards AI, Meta Platforms' earnings report could have a favorable short-term impact on its stock.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Microsoft is expected to report earnings this week, with optimism for AI-focused companies potentially boosting its stock.
Microsoft's upcoming earnings report and the general optimism around AI-focused companies suggest a positive short-term impact on its stock price.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Invesco QQQ ETF gained in premarket trading, with investor sentiment lifted by the anticipation of strong tech earnings.
The Invesco QQQ ETF's premarket gains suggest that investor sentiment is positive, potentially leading to short-term gains based on the tech earnings reports.
CONFIDENCE 65
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
SPDR S&P 500 ETF Trust edged up in premarket trading, reflecting cautious optimism before tech earnings and the Fed meeting.
SPY's modest premarket gains indicate cautious optimism, which could lead to short-term positive movement depending on tech earnings and the Fed outcome.
CONFIDENCE 65
IMPORTANCE 60
RELEVANCE 70