Benzinga Market Summary: Stocks Fall On Weak Jobs Data And Soft Guidance From Amazon And Intel, Chip Stocks Drop
Portfolio Pulse from Benzinga Newsdesk
Stocks fell due to weak jobs data and soft guidance from Amazon and Intel. Chip stocks also dropped.
August 02, 2024 | 8:02 pm
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NEGATIVE IMPACT
Amazon provided soft guidance, contributing to the overall market decline.
Amazon's guidance is a significant indicator for the market, and soft guidance suggests potential revenue and earnings challenges.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Intel's soft guidance led to a drop in its stock price and affected the broader chip sector.
Intel's guidance is crucial for the semiconductor industry, and soft guidance indicates potential issues in the sector.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
The SPY ETF fell due to weak jobs data and soft guidance from major companies like Amazon and Intel.
SPY, representing the S&P 500, is affected by the overall market sentiment driven by weak jobs data and soft guidance from major companies.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80