Nasdaq, S&P Futures Slide On More Negative Tech Tidings As Focus Shifts To Q2 GDP Data: Strategist Says Trump Trades May Not Work Even If Ex-President Retakes White House
Portfolio Pulse from Shanthi Rexaline
Nasdaq and S&P futures are sliding due to negative tech earnings and anticipation of Q2 GDP data. Disappointing earnings from STMicroelectronics and Teradyne are dragging the tech sector. SPDR S&P 500 ETF Trust and Invesco QQQ ETF are also down in premarket trading. Analysts suggest caution with small-cap cyclicals despite recent outperformance.
July 25, 2024 | 11:23 am
News sentiment analysis
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NEGATIVE IMPACT
Invesco QQQ ETF is down in premarket trading due to negative tech earnings and anticipation of Q2 GDP data.
The Invesco QQQ ETF is likely to be impacted by the overall negative sentiment in the tech sector due to disappointing earnings and upcoming GDP data.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
SPDR S&P 500 ETF Trust is down in premarket trading due to negative tech earnings and anticipation of Q2 GDP data.
The SPDR S&P 500 ETF Trust is likely to be impacted by the overall negative sentiment in the market due to disappointing tech earnings and upcoming GDP data.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
STMicroelectronics reported disappointing earnings, impacting the tech sector negatively.
STMicroelectronics' earnings report was below expectations, which is likely to negatively impact its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Teradyne's earnings report was disappointing, contributing to the negative sentiment in the tech sector.
Teradyne's earnings report fell short of expectations, which is likely to negatively impact its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80