Major indexes are lower amid recent weakness in tech stocks.
Portfolio Pulse from Benzinga Newsdesk
Major indexes are experiencing a downturn due to recent weakness in tech stocks.
July 18, 2024 | 3:22 pm
News sentiment analysis
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NEGATIVE IMPACT
The Dow Jones Industrial Average ETF (DIA) is likely to be impacted negatively due to the overall market downturn driven by weakness in tech stocks.
DIA tracks the Dow Jones Industrial Average, which is likely to be affected by the overall market downturn caused by weakness in tech stocks.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The iShares Russell 2000 ETF (IWM) may see a decline as the broader market, including small-cap stocks, is affected by the tech sector's weakness.
IWM tracks the Russell 2000 Index, which includes small-cap stocks that are likely to be influenced by the overall market sentiment driven by tech stock performance.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
The Invesco QQQ ETF (QQQ), which heavily tracks tech stocks, is expected to be significantly impacted by the recent weakness in the tech sector.
QQQ tracks the Nasdaq-100 Index, which is heavily weighted towards tech stocks. The recent weakness in tech stocks will directly impact QQQ.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
The SPDR S&P 500 ETF (SPY) is expected to face downward pressure as the broader market, including tech stocks, shows weakness.
SPY tracks the S&P 500 Index, which includes a significant portion of tech stocks. The recent weakness in tech stocks will likely impact SPY.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90