Wall Street Looks To Extend Gains As Traders Eye More Jobs Data: Why This Analyst Sees 4% S&P 500 Rise In June
Portfolio Pulse from Shanthi Rexaline
U.S. stocks are set for a cautiously optimistic start on Wednesday, influenced by labor market data and service sector activity readings. The SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ ETF (QQQ) showed mixed premarket performance. Notable stock movements include Hewlett Packard Enterprise (HPE), CrowdStrike (CRWD), and Stitch Fix (SFIX) rising on earnings. Several companies are reporting quarterly results before and after the market open.
June 05, 2024 | 11:24 am
News sentiment analysis
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NEUTRAL IMPACT
ChargePoint Holdings (CHPT) is set to report its quarterly results after the market close.
CHPT's stock price could be influenced by its upcoming earnings report, contingent on the financial performance revealed.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Campbell Soup Company (CPB) is set to report its quarterly results before the market open.
CPB's upcoming earnings report could influence its stock price depending on the results.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Dollar Tree (DLTR) is set to report its quarterly results before the market open.
DLTR's upcoming earnings report could impact its stock price based on the financial performance disclosed.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Five Below (FIVE) is set to report its quarterly results after the market close.
FIVE's stock price may react to its upcoming earnings report, depending on the disclosed financial performance.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Hibbett (HIBB) is set to report its quarterly results before the market open.
HIBB's stock price could be affected by its upcoming earnings report, contingent on the financial performance revealed.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Lululemon Athletica (LULU) is set to report its quarterly results after the market close.
LULU's stock price may react to its upcoming earnings report, depending on the disclosed financial performance.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Ollie’s Bargain Outlet Holdings (OLLI) is set to report its quarterly results before the market open.
OLLI's stock price may be influenced by its upcoming earnings report, depending on the results.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Smartsheet Inc. (SMAR) is set to report its quarterly results after the market close.
SMAR's stock price may react to its upcoming earnings report, depending on the disclosed financial performance.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Semtech Corporation (SMTC) is set to report its quarterly results after the market close.
SMTC's stock price could be influenced by its upcoming earnings report, contingent on the financial performance revealed.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
The SPDR S&P 500 ETF Trust (SPY) is down 0.20% in premarket trading, reflecting cautious sentiment ahead of key economic data releases.
The premarket decline in SPY indicates cautious sentiment among traders ahead of important economic data releases, which could influence market direction.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
United Natural Foods (UNFI) is set to report its quarterly results before the market open.
UNFI's stock price may react to its upcoming earnings report, depending on the disclosed financial performance.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Victoria’s Secret (VSCO) is set to report its quarterly results after the market close.
VSCO's stock price could be affected by its upcoming earnings report, contingent on the financial performance revealed.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
CrowdStrike Holdings (CRWD) rose over 8% in premarket trading on positive earnings results.
CRWD's premarket increase is driven by positive earnings, reflecting strong investor confidence.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Hewlett Packard Enterprise (HPE) climbed over 14% in premarket trading following strong quarterly results.
HPE's significant premarket rise is directly attributed to its strong quarterly earnings, indicating positive investor sentiment.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
The Invesco QQQ ETF (QQQ) is up 0.42% in premarket trading, likely driven by positive sentiment in the tech sector.
The premarket rise in QQQ suggests positive sentiment in the tech sector, which could be bolstered by favorable earnings reports.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Stitch Fix (SFIX) soared more than 17% in premarket trading following its earnings announcement.
SFIX's substantial premarket gain is due to its positive earnings report, indicating strong market reaction.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90