Wall Street Rises Ahead Of Big Tech Earnings, Fed Meeting; Tesla Rebounds, Oil Prices Drop To 7-Week Lows: What's Driving Markets Monday?
Portfolio Pulse from Piero Cingari
Wall Street opened higher on Monday, driven by optimism ahead of major tech earnings and the Federal Reserve's meeting. Tesla rebounded 5% after a bullish note from Morgan Stanley, while oil prices dropped to 7-week lows. Key economic data and earnings reports from major companies like Microsoft, Apple, Meta, and Amazon are expected this week.
July 29, 2024 | 5:31 pm
News sentiment analysis
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NEGATIVE IMPACT
Alliance Resource Partners tumbled 6% following its earnings report.
Negative earnings reports can lead to significant stock price decreases, as seen with Alliance Resource Partners.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 60
NEGATIVE IMPACT
Charles Schwab fell 1.6% after Piper Sandler cut the company's rating to Neutral.
Downgrades from analysts can negatively impact stock prices, as seen with Charles Schwab.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70
NEGATIVE IMPACT
The Energy Select Sector SPDR Fund lagged, falling 1.2% amid declining oil prices.
Falling oil prices negatively impact energy sector ETFs like XLE.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Apple is set to report its quarterly earnings this week, which could significantly impact its stock price.
Earnings reports are critical for stock price movements, and Apple's performance will be closely watched by investors.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 80
POSITIVE IMPACT
Affiliated Managers Group rose 3.9% following its earnings report.
Positive earnings reports can drive stock prices higher, as seen with Affiliated Managers Group.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
Amazon is set to report its quarterly earnings this week, which could significantly impact its stock price.
Earnings reports are critical for stock price movements, and Amazon's performance will be closely watched by investors.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 80
POSITIVE IMPACT
CNA Financial rose 3.7% following its earnings report.
Positive earnings reports can drive stock prices higher, as seen with CNA Financial.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
McDonald's soared 4.3% despite reporting disappointing profits.
Positive market sentiment can sometimes outweigh disappointing earnings, leading to stock price increases.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Meta Platforms is set to report its quarterly earnings this week, which could significantly impact its stock price.
Earnings reports are critical for stock price movements, and Meta's performance will be closely watched by investors.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 80
POSITIVE IMPACT
Microsoft is set to report its quarterly earnings this week, which could significantly impact its stock price.
Earnings reports are critical for stock price movements, and Microsoft's performance will be closely watched by investors.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 80
POSITIVE IMPACT
ON Semiconductor skyrocketed 13.5% amid stronger-than-expected quarterly results.
Strong earnings reports can lead to significant stock price increases, as seen with ON Semiconductor.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 70
POSITIVE IMPACT
Revvity climbed 6.4% following its earnings report.
Positive earnings reports can drive stock prices higher, as seen with Revvity.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
The SPDR S&P 500 ETF Trust rose 0.4%, reflecting the overall positive sentiment in the market.
The SPY ETF's performance is a good indicator of overall market sentiment, which is currently positive.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
The iShares 20+ Year Treasury Bond ETF rose 0.4% as long-term Treasury yields fell.
Falling long-term Treasury yields typically lead to higher bond prices, benefiting ETFs like TLT.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Tesla's stock rallied 5% after a bullish note from Morgan Stanley, making it the analyst's top pick in the U.S. automotive industry.
Positive analyst ratings can boost investor confidence and drive stock prices higher, as seen with Tesla's 5% rally.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
The Consumer Discretionary Select Sector SPDR Fund outperformed, rising 1.7%.
Sector-specific ETFs like XLY can outperform based on positive sentiment in their respective sectors.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 60