S&P 500 Falls For Third Straight Week, Middle East In Turmoil, Fed Holds Steady But Urgency For Rate Cuts Grows: This Week In The Market
Portfolio Pulse from Piero Cingari
The S&P 500 Index, tracked by SPDR S&P 500 ETF Trust (SPY), fell for the third consecutive week amid Middle East turmoil and weak economic data. Fed Chair Jerome Powell hinted at a potential rate cut in September, but investor sentiment remained low. Chip stocks like Intel (INTC), NVIDIA (NVDA), and ASML (ASML) saw sharp declines, while Amazon (AMZN) dipped on mixed quarterly results. JPMorgan remains optimistic about Apple's (AAPL) AI-driven growth.
August 02, 2024 | 8:19 pm
News sentiment analysis
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NEGATIVE IMPACT
Amazon.com Inc. (AMZN) shares fell after reporting mixed quarterly results and issuing soft third-quarter guidance.
Amazon's stock price fell due to mixed quarterly results and soft third-quarter guidance, indicating a negative short-term impact.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 70
NEGATIVE IMPACT
ASML Holding NV (ASML) saw sharp declines due to weak manufacturing data and higher jobless claims.
ASML's stock price declined sharply due to weak manufacturing data and higher jobless claims, indicating a negative short-term impact.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 80
NEGATIVE IMPACT
Intel Corp. (INTC) saw sharp declines due to weak manufacturing data and higher jobless claims.
Weak manufacturing data and higher jobless claims negatively impacted Intel, leading to a sharp decline in its stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 80
NEGATIVE IMPACT
NVIDIA Corp. (NVDA) experienced a significant drop due to weak manufacturing data and higher jobless claims.
NVIDIA's stock price fell sharply due to weak manufacturing data and higher jobless claims, indicating a negative short-term impact.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 80
NEGATIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) declined for the third consecutive week due to weak economic data and geopolitical tensions.
The S&P 500 Index, tracked by SPY, fell due to weak economic data and geopolitical tensions, indicating a negative short-term impact.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
JPMorgan remains optimistic about Apple Inc.'s (AAPL) AI-driven growth, maintaining an Overweight rating after strong Q3 results.
JPMorgan's positive outlook on Apple's AI-driven growth and strong Q3 results suggest a positive short-term impact on the stock.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60