Wall Street Sentiment Skittish At Start Of Fresh Trading Week, Bitcoin Stabilizes: Analyst Says 'First Half Of July Is Historically One Of The Most Bullish Periods'
Portfolio Pulse from Shanthi Rexaline
U.S. stock futures are flat as the market is at a record high, supported by a tech rally. Traders are cautious ahead of Federal Reserve Chairman Jerome Powell's testimony and other economic data. The SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ ETF (QQQ) are slightly down in premarket trading. Paramount Global (PARA) is up over 3% after confirming its acquisition by Skydance Media, while Tesla (TSLA) fell over 1% after an 8-session runup. Boeing (BA) rose modestly after reaching a guilty plea agreement with the DOJ over the 737 Max.
July 08, 2024 | 11:44 am
News sentiment analysis
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NEGATIVE IMPACT
Tesla (TSLA) fell over 1% in premarket trading following an 8-session runup.
The decline in TSLA's stock price is likely a result of profit-taking after an extended runup.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 85
NEUTRAL IMPACT
The Invesco QQQ ETF (QQQ) is slightly down in premarket trading, mirroring the cautious sentiment in the broader market.
Similar to SPY, QQQ's slight decline reflects cautious market sentiment due to upcoming economic data and Fed Chair Powell's testimony.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
The SPDR S&P 500 ETF Trust (SPY) is slightly down in premarket trading, reflecting cautious sentiment ahead of key economic data and Fed Chair Powell's testimony.
The slight decline in SPY indicates cautious sentiment among traders due to upcoming economic data and Fed Chair Powell's testimony, which could impact market direction.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Boeing (BA) rose modestly in premarket trading after reaching a guilty plea agreement with the DOJ over the 737 Max.
The resolution of legal issues with the DOJ is a positive development for Boeing, contributing to its modest premarket gains.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Paramount Global (PARA) is up over 3% in premarket trading after confirming its acquisition by Skydance Media.
The acquisition news is a positive catalyst for PARA, driving its premarket gains.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90