S&P 500, Nasdaq 100 Mark Seventh Straight Positive Session, Strongest Week Since October 2023: Friday's Top Movers
Portfolio Pulse from Piero Cingari
The S&P 500 and Nasdaq 100 indices marked their seventh consecutive day of gains, achieving their strongest weekly performance since October 2023. The SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust (QQQ) closed with modest daily gains, while the SPDR Dow Jones Industrial Average ETF (DIA) also saw gains. Positive economic indicators, including better-than-expected consumer sentiment, lower initial jobless claims, and strong retail sales, fueled market enthusiasm. The latest earnings season showed record-high earnings per share for the S&P 500 companies.
August 16, 2024 | 8:09 pm
News sentiment analysis
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POSITIVE IMPACT
Bath & Body Works, Inc. (BBWI) was a top mover in the S&P 500 on Friday with a 2.47% gain.
Bath & Body Works saw significant gains, likely driven by positive market sentiment and strong economic indicators.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The SPDR Dow Jones Industrial Average ETF (DIA) closed with a 0.2% gain, marking its fourth straight session of gains and the best week since December 2023.
The DIA ETF tracks the Dow Jones Industrial Average, which saw gains due to positive economic data and strong earnings reports. This is likely to boost investor confidence in DIA.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
DexCom, Inc. (DXCM) was a top mover in both the S&P 500 and Nasdaq 100 on Friday with a 3.16% gain.
DexCom saw significant gains, likely driven by positive market sentiment and strong economic indicators.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 90
POSITIVE IMPACT
PDD Holdings Inc. (PDD) was a top mover in the Nasdaq 100 on Friday with a 2.90% gain.
PDD Holdings saw significant gains, likely driven by positive market sentiment and strong economic indicators.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 90
POSITIVE IMPACT
The Invesco QQQ Trust (QQQ) closed with a 0.1% gain, contributing to a 5.5% weekly increase, the strongest since October 2023.
The QQQ ETF tracks the Nasdaq 100 index, which saw significant gains due to positive economic data and strong earnings reports. This is likely to boost investor confidence in QQQ.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) closed with a 0.2% gain, contributing to a 4% weekly increase, the strongest since October 2023.
The SPY ETF closely tracks the S&P 500 index, which saw significant gains due to positive economic data and strong earnings reports. This is likely to boost investor confidence in SPY.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Atlassian Corporation (TEAM) was the top mover in the Nasdaq 100 on Friday with a 5.05% gain.
Atlassian saw significant gains, likely driven by positive market sentiment and strong economic indicators.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 90
POSITIVE IMPACT
Tapestry, Inc. (TPR) was a top mover in the S&P 500 on Friday with a 3.06% gain.
Tapestry saw significant gains, likely driven by positive market sentiment and strong economic indicators.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Take-Two Interactive Software, Inc. (TTWO) was a top mover in the Nasdaq 100 on Friday with a 2.43% gain.
Take-Two Interactive Software saw significant gains, likely driven by positive market sentiment and strong economic indicators.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 90
POSITIVE IMPACT
Ulta Beauty, Inc. (ULTA) was the top mover in the S&P 500 on Friday with a 3.21% gain.
Ulta Beauty saw significant gains, likely driven by positive market sentiment and strong economic indicators.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Warner Bros. Discovery, Inc. (WBD) was a top mover in the Nasdaq 100 on Friday with a 2.36% gain.
Warner Bros. Discovery saw significant gains, likely driven by positive market sentiment and strong economic indicators.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 90
POSITIVE IMPACT
West Pharmaceutical Services, Inc. (WST) was a top mover in the S&P 500 on Friday with a 2.67% gain.
West Pharmaceutical Services saw significant gains, likely driven by positive market sentiment and strong economic indicators.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80