Wall Street Set For Cautious Start After Record Run Last Week: Fed Speeches, Manufacturing Data In Focus, Expert Flags Key Stock Catalyst
Portfolio Pulse from Shanthi Rexaline
U.S. stocks are set for a cautious start after last week's record run, with mixed sentiment in index futures. Key focus areas include Fed speeches and manufacturing data. Tech stocks may continue to show strength, but broader market performance remains uncertain. Analysts suggest buying on dips and highlight the importance of falling Treasury yields and broader market rotation. Autodesk shares rose on news of an activist investor stake, while La-Z-Boy and Lennar are set to release quarterly results.
June 17, 2024 | 11:35 am
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Lennar is scheduled to release its quarterly results after the market close, which could influence its stock price.
Lennar's earnings report could impact its stock price based on the company's financial performance and market reaction.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
La-Z-Boy is set to release its quarterly results after the market close, which could impact its stock price based on performance.
The upcoming earnings report could lead to stock price volatility depending on the company's performance and market expectations.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
The SPDR S&P 500 ETF Trust edged down 0.05% in premarket trading, reflecting cautious sentiment after last week's gains.
The slight decline in SPY indicates cautious sentiment among investors following a strong performance last week. The focus on upcoming economic data and Fed speeches adds to the uncertainty.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Autodesk shares rose over 4% in premarket trading after activist investor Starboard Value bought a $500 million stake in the company.
The significant stake by Starboard Value is a positive signal for Autodesk, likely boosting investor confidence and driving the stock price higher in the short term.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
The Invesco QQQ ETF traded up 0.13% in premarket trading, indicating continued strength in tech stocks.
The positive movement in QQQ suggests that tech stocks may continue to perform well, driven by positive sentiment from last week's tech earnings.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80