Wall Street Gearing Up For Tech-Led Rebound Ahead Of Netflix Earnings: Economist Expects Soft Landing But Says Brace For Bigger Fed Rate Cuts If This Happens
Portfolio Pulse from Shanthi Rexaline
Wall Street is anticipating a tech-led rebound ahead of Netflix's earnings report, with Taiwan Semiconductor Manufacturing Company's strong quarterly report boosting sentiment. Key economic data and Fed speeches are expected to influence trading. The SPDR S&P 500 ETF Trust and Invesco QQQ ETF showed gains in premarket trading. Notable stock movements include Alcoa, Kinder Morgan, SL Green Realty, and Domino's Pizza. Major companies like Abbott Laboratories, Alaska Air Group, Nokia, Marsh & McLennan, D.R. Horton, and Novartis are reporting earnings, with Netflix and Intuitive Surgical reporting after the close.
July 18, 2024 | 11:34 am
News sentiment analysis
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NEGATIVE IMPACT
Domino's Pizza plunged over 10% in premarket trading due to a slight revenue miss.
The significant drop in Domino's Pizza's stock price in premarket trading indicates a strong negative reaction to its revenue miss.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Kinder Morgan fell over 2.50% in premarket trading, indicating a negative reaction to its quarterly report.
The decline in Kinder Morgan's stock price in premarket trading suggests a negative market reaction to its earnings report.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Netflix is set to report earnings after the market close, which could significantly impact its stock price.
Netflix's earnings report could lead to significant stock price movement, depending on the results and market reaction.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 70
POSITIVE IMPACT
Alcoa Corporation rose over 1% in premarket trading following its quarterly report.
Alcoa's positive premarket movement suggests a favorable reaction to its quarterly report.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
The Invesco QQQ ETF added 0.41% in premarket trading, reflecting optimism in the tech sector.
The premarket gain in QQQ indicates optimism in the tech sector, likely driven by positive earnings reports and economic data.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
SL Green Realty gained over 3% in premarket trading, indicating a positive reaction to its quarterly report.
The positive premarket movement in SL Green Realty's stock suggests a favorable market reaction to its earnings report.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
The SPDR S&P 500 ETF Trust rose 0.18% in premarket trading, indicating a positive sentiment in the broader market.
The premarket rise in SPY suggests positive sentiment in the broader market, likely influenced by strong tech earnings and economic data.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Taiwan Semiconductor Manufacturing Company's strong quarterly report is lifting sentiment toward tech stocks, potentially leading to a tech-led rebound.
TSM's strong earnings report is a positive signal for the tech sector, which has been under pressure. This could lead to a short-term rebound in tech stocks.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80