US Stocks Could Open Sharply Lower As Tesla, Alphabet Earnings Offer No Cheer: Analyst Says This Bodes Well For Small-Caps, 'Only Takes A Small Spark To Ignite A Powerful Move'
Portfolio Pulse from Shanthi Rexaline
US stocks are expected to open lower due to disappointing earnings from Tesla and Alphabet. Tesla's earnings were considered low quality, and Alphabet's increased capex for AI raised concerns. Small-cap stocks, however, showed resilience and rose. Key economic data releases are anticipated.
July 24, 2024 | 11:43 am
News sentiment analysis
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NEGATIVE IMPACT
Alphabet's increased capex for AI raised investor concerns, leading to a 3% drop in premarket trading.
Investors are worried about Alphabet's massive capex boost for AI, resulting in a 3% drop in premarket trading.
CONFIDENCE 100
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
Alphabet's increased capex for AI raised investor concerns, leading to a 3% drop in premarket trading.
Investors are worried about Alphabet's massive capex boost for AI, resulting in a 3% drop in premarket trading.
CONFIDENCE 100
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
Invesco QQQ ETF fell 1.12% in premarket trading due to negative sentiment from major earnings reports.
Negative sentiment from Tesla and Alphabet's earnings reports led to a 1.12% drop in QQQ in premarket trading.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
SPDR S&P 500 ETF Trust fell 0.75% in premarket trading due to negative sentiment from major earnings reports.
Negative sentiment from Tesla and Alphabet's earnings reports led to a 0.75% drop in SPY in premarket trading.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Tesla's earnings were poorly received, leading to an 8% drop in premarket trading.
Tesla's earnings were dismissed as low quality, causing significant investor concern and an 8% drop in premarket trading.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100