US Stocks Set For A Lower Start As Sentiment Sours Ahead Of Powell's Speech, JOLTS Data, And Tesla Q2 Data: 'There's Still An Upward Tilt To The Equity Market,' Says Analyst
Portfolio Pulse from Shanthi Rexaline
US stocks are set for a lower start as traders await key data and speeches, including Tesla's Q2 data and Fed Chair Powell's speech. The Nasdaq Composite closed at a record high, but futures indicate a downturn. Tesla, Nvidia, AMD, and Paramount Global are in focus.
July 02, 2024 | 11:28 am
News sentiment analysis
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NEGATIVE IMPACT
AMD fell in premarket trading, mirroring the tech sector's overall performance.
AMD's premarket decline is in line with the tech sector's performance, indicating broader market influences.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Nvidia fell in premarket trading, reflecting broader market sentiment and potential profit-taking.
Nvidia's premarket decline is likely due to broader market sentiment and potential profit-taking, impacting short-term performance.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Invesco QQQ ETF slipped 0.42% in premarket trading, indicating a potential downturn in tech stocks.
The Invesco QQQ ETF's premarket decline suggests a potential downturn in tech stocks, influenced by broader market sentiment.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
SPDR S&P 500 ETF Trust moved down 0.41% in premarket trading, reflecting cautious market sentiment.
The SPDR S&P 500 ETF Trust's premarket decline reflects cautious market sentiment ahead of key economic data and speeches.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Tesla fell close to 2% in premarket trading ahead of its Q2 deliveries update, indicating investor caution.
Tesla's premarket drop suggests investor caution ahead of its Q2 deliveries update, which could impact short-term stock performance.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Paramount Global climbed about 4% after reports that Barry Diller is considering a takeover bid.
The potential takeover bid by Barry Diller has positively impacted Paramount Global's stock, indicating strong investor interest.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100