Nasdaq, S&P 500 Futures Waver As Home Depot Sags And PPI Report Awaited: Analyst Says 'Insufficient Technical Evidence' That Bottom Has Been Set
Portfolio Pulse from Shanthi Rexaline
Wall Street is optimistic about benign inflation data, which could lead to a rate cut. Home Depot's weak guidance is weighing on the retail sector. Futures for Nasdaq and S&P 500 are slightly up, while Dow and Russell 2000 are down. Key stocks like Home Depot, Tencent Music, Sea Limited, Paysafe, and Viasat are experiencing significant premarket movements.
August 13, 2024 | 11:41 am
News sentiment analysis
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POSITIVE IMPACT
Nvidia rallied amid positive commentary by sell-side analysts, boosting semiconductor stocks.
Positive analyst commentary on Nvidia has led to a rally, which is boosting the semiconductor sector overall.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Paysafe Limited rose about 6% in premarket trading.
The rise in PSFE's stock price indicates positive investor sentiment, possibly due to favorable earnings or other positive news.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 70
POSITIVE IMPACT
Invesco QQQ ETF rose 0.19% in premarket trading, driven by positive sentiment in the tech sector.
The rise in QQQ reflects positive sentiment in the tech sector, likely influenced by recent gains in semiconductor stocks like Nvidia.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
SPDR S&P 500 ETF Trust edged up 0.07% in premarket trading, reflecting cautious optimism ahead of inflation data.
The slight increase in SPY indicates cautious optimism among investors, likely due to expectations of benign inflation data.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70
NEGATIVE IMPACT
Home Depot's weak guidance is expected to negatively impact the retail sector as it prepares for upcoming earnings reports.
Home Depot's guidance cut is a significant indicator for the retail sector, suggesting potential weakness in upcoming earnings reports for similar companies.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
Sea Limited pulled back over 3.5% in premarket trading.
The pullback in SE's stock price suggests investor caution or disappointment, possibly related to broader market trends or company-specific news.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 70
NEGATIVE IMPACT
Tencent Music Entertainment Group fell over 7% following its earnings announcement.
The significant drop in TME's stock price following its earnings announcement indicates investor disappointment with the results.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 75
NEGATIVE IMPACT
Viasat, Inc. slumped about 10% after announcing an offering.
The significant drop in VSAT's stock price following the offering announcement suggests investor concern about dilution or other negative impacts.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 75