Major indexes are higher as investors assess PMI and new home sales data as well as earnings reports across sectors. Semiconductor stocks have also rebounded following Friday's drop.
Portfolio Pulse from Benzinga Newsdesk
Major indexes have seen an increase as investors evaluate PMI and new home sales data, along with earnings reports from various sectors. Semiconductor stocks have rebounded after a decline on Friday.

April 23, 2024 | 3:51 pm
News sentiment analysis
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POSITIVE IMPACT
The Dow Jones Industrial Average ETF (DIA) likely experienced a positive impact due to the overall market uptrend reflected in the major indexes' rise.
As DIA tracks the Dow Jones Industrial Average, the positive sentiment and rise in major indexes directly contribute to its potential short-term gains.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The Russell 2000 ETF (IWM) likely saw an uptick due to the positive market sentiment driven by the latest economic data and earnings reports.
IWM, which tracks the Russell 2000 index, is positively impacted by the uplift in market sentiment, as it reflects the performance of small-cap stocks that are sensitive to domestic economic indicators.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The NASDAQ-100 ETF (QQQ) likely benefited from the rebound in semiconductor stocks and the positive earnings reports, contributing to its short-term rise.
Given QQQ's heavy weighting towards technology and semiconductor companies, the rebound in these sectors directly influences its performance positively in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 90
POSITIVE IMPACT
The NASDAQ-100 ETF (QQQM) mirrors the performance of QQQ, thus likely experiencing similar positive impacts from the semiconductor sector's recovery and favorable earnings reports.
QQQM, being a variant of QQQ with similar holdings, benefits from the same factors that are boosting QQQ's performance, including the recovery in the semiconductor industry and positive earnings.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 85
POSITIVE IMPACT
The S&P 500 ETF (SPY) likely saw gains as it reflects the broader market sentiment, which has been uplifted by positive PMI, new home sales data, and earnings reports.
SPY, which tracks the S&P 500, is directly impacted by the overall market sentiment. The positive economic data and earnings reports contribute to its potential short-term rise.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 90