Nasdaq, S&P 500 Set To Open Higher On Nvidia Prop, FedEx Earnings, But Traders Could Move To Sidelines Ahead Of Key Data: Analyst Says Underweighting Techs 'Contrarian Bet'
Portfolio Pulse from Shanthi Rexaline
Nasdaq and S&P 500 futures are set to open higher, driven by Nvidia's rally and FedEx's positive earnings. However, caution prevails ahead of key economic data and a presidential debate. Rivian and Lucid see gains due to partnership news, while FedEx and Whirlpool rise on earnings and M&A rumors. General Mills, Paychex, Micron, and others are set to report earnings.
June 26, 2024 | 11:36 am
News sentiment analysis
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NEUTRAL IMPACT
H.B. Fuller Company is set to report earnings after the market close.
Upcoming earnings report could impact H.B. Fuller's stock price depending on the results.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
General Mills is set to report earnings ahead of the market opening.
Upcoming earnings report could impact General Mills' stock price depending on the results.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Levi Strauss & Co. is set to report earnings after the market close.
Upcoming earnings report could impact Levi Strauss & Co.'s stock price depending on the results.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Micron Technology is set to report earnings after the market close.
Upcoming earnings report could impact Micron Technology's stock price depending on the results.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Paychex is set to report earnings ahead of the market opening.
Upcoming earnings report could impact Paychex's stock price depending on the results.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Invesco QQQ ETF rose 0.16% in premarket trading.
Minor movement in premarket trading, reflecting broader market sentiment.
CONFIDENCE 60
IMPORTANCE 40
RELEVANCE 40
NEUTRAL IMPACT
SPDR S&P 500 ETF Trust edged up 0.01% in premarket trading.
Minor movement in premarket trading, reflecting broader market sentiment.
CONFIDENCE 60
IMPORTANCE 40
RELEVANCE 40
NEUTRAL IMPACT
Worthington Steel is set to report earnings after the market close.
Upcoming earnings report could impact Worthington Steel's stock price depending on the results.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
FedEx's positive earnings and M&A rumors boost its stock, contributing to market optimism.
FedEx's strong earnings report and M&A rumors are likely to boost investor sentiment and its stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Lucid Group's stock moves higher in sympathy with Rivian's partnership news.
Lucid Group's stock is benefiting from positive sentiment in the EV sector due to Rivian's partnership news.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Nvidia's rally continues to drive tech strength, potentially lifting the broader market.
Nvidia's ongoing rally is a significant driver for the tech sector, which could positively impact the broader market indices.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Rivian's stock climbs over 33% in premarket trading due to a partnership with Volkswagen.
The partnership with Volkswagen is a significant development for Rivian, driving its stock price higher.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Whirlpool's stock rises nearly 14% on rumors of a bid from Bosch.
The potential acquisition by Bosch is driving Whirlpool's stock price higher.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 70