Poll Finds Over 70% Believe 2024 Stock Market Peak Not Yet Reached
Portfolio Pulse from Chris Katje
A Benzinga poll reveals that over 70% of investors believe the stock market has not yet peaked in 2024, with expectations of new highs by year-end. The SPDR S&P 500 ETF Trust (SPY) is up 18.4% year-to-date. Earnings reports from Apple (AAPL), Amazon (AMZN), Meta Platforms (META), and Microsoft (MSFT) showed mixed results, with Amazon missing net sales estimates but beating EPS expectations. Historical trends suggest a challenging August and September for the S&P 500.
August 02, 2024 | 12:47 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Amazon missed net sales estimates but beat earnings per share expectations. This mixed performance may lead to short-term volatility in its stock price.
Amazon's mixed earnings report could result in short-term volatility, with the positive EPS beat potentially offsetting the negative sales miss.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
The SPDR S&P 500 ETF Trust (SPY) is up 18.4% year-to-date, but historical trends suggest a challenging August and September. Investor sentiment remains positive, with over 70% expecting new highs by year-end.
Despite positive year-to-date performance, historical trends indicate potential short-term challenges. However, strong investor sentiment could mitigate negative impacts.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Apple reported quarterly financial results, beating revenue and earnings per share estimates. This positive performance could support investor sentiment and stock price.
Apple's strong earnings report is likely to positively impact its stock price in the short term, supporting overall market sentiment.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Meta Platforms reported quarterly financial results, beating revenue and earnings per share estimates. This strong performance is likely to positively impact its stock price.
Meta's strong earnings report is expected to positively impact its stock price in the short term, supporting overall market sentiment.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Microsoft reported quarterly financial results, beating revenue and earnings per share estimates. This positive performance is likely to support its stock price.
Microsoft's strong earnings report is expected to positively impact its stock price in the short term, supporting overall market sentiment.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80