Wall Street Eyes Cautious Start, Nvidia Falls: Optimistic Analyst Says S&P 500 Could Challenge All-Time Highs Multiple Times In Second-Half
Portfolio Pulse from Shanthi Rexaline
U.S. stocks are expected to start the week cautiously, with Nvidia likely to extend its slide, impacting tech stocks. Analyst Daniel Ives predicts a 15% gain for tech stocks in the second half of the year due to AI expansion. Key economic data and bond yields will be closely watched. Boeing fell after confirming its takeover of Spirit AeroSystems, while Tesla rose ahead of its deliveries report. Chinese EV startups saw gains, and GameStop dropped following a class action lawsuit against Roaring Kitty.
July 01, 2024 | 11:35 am
News sentiment analysis
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NEGATIVE IMPACT
Boeing fell over 1% in premarket trading after confirming its takeover of Spirit AeroSystems.
Boeing's decline is likely due to investor concerns over the financial implications of the takeover.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
GameStop moved down over 3.50% after Roaring Kitty was hit with a class action lawsuit.
GameStop's decline is likely due to negative sentiment following the class action lawsuit against Roaring Kitty.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Nvidia is expected to extend its slide, exerting downward pressure on tech stocks.
Nvidia's continued decline is likely to negatively impact tech stocks, given its significant influence in the sector.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEUTRAL IMPACT
SPDR S&P 500 ETF Trust edged down 0.05% in premarket trading.
The slight decline in SPY reflects the cautious start expected for U.S. stocks.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Li Auto climbed solidly in reaction to its June deliveries report.
Li Auto's gains are attributed to positive delivery numbers for June, boosting investor confidence.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Nio climbed solidly in reaction to its June deliveries report.
Nio's gains are attributed to positive delivery numbers for June, boosting investor confidence.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Invesco QQQ ETF rose 0.17% in premarket trading.
The rise in QQQ indicates a positive outlook for tech stocks despite Nvidia's decline.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Spirit AeroSystems added over 6% in premarket trading after Boeing confirmed its takeover.
Spirit AeroSystems' significant gain reflects positive investor sentiment regarding the takeover by Boeing.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Tesla rose over 1% in premarket trading ahead of its deliveries report due Tuesday.
Tesla's rise is driven by positive expectations for its upcoming deliveries report.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
XPeng climbed solidly in reaction to its June deliveries report.
XPeng's gains are attributed to positive delivery numbers for June, boosting investor confidence.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70