Wall Street To Open Mostly Flat As Nvidia Earnings, Fed Speeches Keep Traders On Edge; Bitcoin Rockets Above $71K On Ethereum ETF Approval Buzz
Portfolio Pulse from Shanthi Rexaline
Wall Street is expected to open mostly flat as traders await Nvidia's earnings and several Fed speeches. Bitcoin surged above $71K on Ethereum ETF approval speculation. Key stocks in focus include Nvidia, Palo Alto Networks, Zoom Video Communications, Lowe's, AutoZone, Macy's, Toll Brothers, Viasat, and Urban Outfitters.
May 21, 2024 | 11:14 am
News sentiment analysis
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NEGATIVE IMPACT
Palo Alto Networks fell over 7.70% in premarket trading following its quarterly results announcement.
The significant drop in premarket trading indicates a negative market reaction to Palo Alto Networks' quarterly results.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Invesco QQQ ETF traded down 0.07% in premarket trading.
The slight decrease in QQQ indicates a cautious sentiment in the tech sector.
CONFIDENCE 65
IMPORTANCE 40
RELEVANCE 50
NEGATIVE IMPACT
Zoom Video Communications fell over 2% in premarket trading.
Zoom's decline in premarket trading suggests a negative sentiment among investors.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
AutoZone is among the notable companies reporting before the market opens.
AutoZone's upcoming earnings report could impact its stock price, but the direction is uncertain.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60
NEUTRAL IMPACT
Macy’s is among the notable companies reporting before the market opens.
Macy's upcoming earnings report could impact its stock price, but the direction is uncertain.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60
NEUTRAL IMPACT
Toll Brothers is among the notable companies reporting after the market closes.
Toll Brothers' upcoming earnings report could impact its stock price, but the direction is uncertain.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60
NEUTRAL IMPACT
Urban Outfitters is among the notable companies reporting after the market closes.
Urban Outfitters' upcoming earnings report could impact its stock price, but the direction is uncertain.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60
NEUTRAL IMPACT
Viasat is among the notable companies reporting after the market closes.
Viasat's upcoming earnings report could impact its stock price, but the direction is uncertain.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
iShares Russell 2000 ETF showed gains, indicating a broadening market rally.
The gains in IWM suggest a positive sentiment and a broadening market rally.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50
POSITIVE IMPACT
Lowe’s Companies added over 2% after its earnings release.
Lowe's positive earnings report has led to a rise in its stock price in premarket trading.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Nvidia's upcoming earnings report is highly anticipated, with analysts expecting the AI leader to surpass ambitious targets.
Nvidia's earnings report is a major event, with high expectations from analysts. Positive results could drive the stock price up.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
SPDR S&P 500 ETF Trust edged up 0.10% in premarket trading.
The slight increase in SPY indicates a positive sentiment in the broader market.
CONFIDENCE 65
IMPORTANCE 40
RELEVANCE 50