Nasdaq Futures Slip As Nvidia Sell-Off Continues, S&P 500 Futures Hold Up: Analyst Says 'Valuations Will Go Parabolic And It Will Be A Perfect Time To Sell'
Portfolio Pulse from Shanthi Rexaline
Nasdaq futures slipped as Nvidia's sell-off continued, while S&P 500 futures held up. Analysts suggest that tech stock valuations may go parabolic, making it a good time to sell. SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ ETF (QQQ) showed mixed premarket performance. Key stocks in focus include Nvidia, Coinbase, Apple, Meta, Trump Media & Technology Group, and ResMed.
June 24, 2024 | 11:33 am
News sentiment analysis
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NEGATIVE IMPACT
Coinbase fell about 3.5% in premarket trading amid Bitcoin's weakness.
Coinbase's decline in premarket trading is directly linked to Bitcoin's weakness, indicating a negative short-term impact on its stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Nvidia's sell-off continues, impacting Nasdaq futures negatively.
Nvidia's continued sell-off is a significant factor in the decline of Nasdaq futures, indicating a negative short-term impact on its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
ResMed fell over 12% on a ratings downgrade.
The ratings downgrade has significantly impacted ResMed's stock price negatively.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 70
NEUTRAL IMPACT
Invesco QQQ ETF was flat in premarket trading, indicating a neutral outlook for tech-heavy Nasdaq 100.
The flat performance of Invesco QQQ ETF in premarket trading suggests a neutral short-term outlook for the tech-heavy Nasdaq 100.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Apple could be in the spotlight after reports of discussions with Meta to integrate AI models.
Apple's potential collaboration with Meta to integrate AI models could positively impact its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75
POSITIVE IMPACT
Trump Media & Technology Group climbed nearly 7% after revealing expected proceeds from warrant exercises.
The expected proceeds from warrant exercises have positively impacted Trump Media & Technology Group's stock price.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Meta's discussions with Apple to integrate AI models could bring positive attention.
Meta's potential collaboration with Apple to integrate AI models could positively impact its stock price in the short term.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 70
POSITIVE IMPACT
SPDR S&P 500 ETF Trust gained 0.15% in premarket trading, reflecting a stable outlook for the S&P 500.
The SPDR S&P 500 ETF Trust's premarket gain suggests a stable outlook for the S&P 500, indicating a positive short-term impact.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70