Nasdaq, S&P 500 Futures Climb After Volatile Week As Traders Eye Inflation Data and Retail Earnings: Strategist Says Not CPI But This Data Can Give People Lot Of Conviction
Portfolio Pulse from Shanthi Rexaline
Nasdaq and S&P 500 futures climbed after a volatile week, with traders focusing on upcoming inflation data and retail earnings from Home Depot and Walmart. KeyCorp shares rose due to Scotiabank's minority stake purchase, while Hawaiian Electric fell after raising a going concern warning. Ballard Power Systems, Barrick Gold, and Monday.com are set to report earnings. The VIX held below 21, and geopolitical tensions rose with Hezbollah's rocket attacks on Israel.
August 12, 2024 | 11:31 am
News sentiment analysis
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NEGATIVE IMPACT
Hawaiian Electric shares fell over 10% after raising a going concern warning due to the Maui wildfire settlement financing.
The going concern warning is a significant negative development, likely leading to a short-term decline in Hawaiian Electric's stock price.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90
NEUTRAL IMPACT
Ballard Power Systems is set to report earnings, which could impact its stock price.
Earnings reports can lead to stock price volatility. The impact will depend on the results.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Barrick Gold is set to report earnings, which could impact its stock price.
Earnings reports can lead to stock price volatility. The impact will depend on the results.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Monday.com is set to report earnings, which could impact its stock price.
Earnings reports can lead to stock price volatility. The impact will depend on the results.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Home Depot is set to report key retail earnings, which traders are closely watching amid a volatile market.
Home Depot's earnings report is crucial for market sentiment, especially in a volatile environment. Positive results could boost the stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
KeyCorp shares rose 15% after Scotiabank announced a $2.8 billion minority stake purchase.
The acquisition by Scotiabank is a positive development for KeyCorp, likely boosting investor confidence and stock price.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Invesco QQQ ETF rose 0.29% in premarket trading, reflecting positive market sentiment.
The rise in QQQ indicates positive market sentiment, likely driven by anticipation of upcoming economic data and earnings reports.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
SPDR S&P 500 ETF Trust rose 0.20% in premarket trading, reflecting positive market sentiment.
The rise in SPY indicates positive market sentiment, likely driven by anticipation of upcoming economic data and earnings reports.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Walmart's upcoming earnings report is highly anticipated by traders, potentially impacting market sentiment.
Walmart's earnings are significant for market sentiment. Positive results could lead to a short-term stock price increase.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80