US Stocks Poised For Consolidation Ahead Of Fed-Speech Deluge, While Bitcoin Pulls Back From $63K Level: Analyst Bullish On Broadening Rally
Portfolio Pulse from Shanthi Rexaline
US stocks are set for a modestly lower opening after recent gains, with attention on Fed speeches and economic data. The S&P 500 and Nasdaq hit new highs, while small-caps also saw gains. Premarket trading saw SPY and QQQ ETFs dip slightly. Notable stock movements include NetApp's surge and Fisker's decline post-earnings. Upcoming economic data includes manufacturing PMIs and consumer sentiment. Bond yields dipped, and crude oil futures rose.
March 01, 2024 | 11:31 am
News sentiment analysis
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POSITIVE IMPACT
NetApp, Inc. surged over 16.50% in premarket trading following its earnings announcement.
NetApp's significant premarket surge is a direct response to its earnings announcement, indicating strong investor approval of the financial results.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
Fisker, Inc. saw its stock price drop about 40% in premarket trading following its earnings report.
The dramatic premarket drop in Fisker's stock price is a reaction to its earnings report, reflecting investor disappointment or concerns.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
Invesco QQQ ETF fell 0.20% in premarket trading to $434.40.
The premarket decline in QQQ is influenced by investor caution due to upcoming Federal Reserve speeches and economic data.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
SPDR S&P 500 ETF Trust dipped 0.27% in premarket trading to $504.90.
The slight premarket dip in SPY reflects cautious investor sentiment ahead of Fed speeches and key economic data releases.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80