No Respite For US Stocks As Futures Sag, VIX Spikes 10%, Bitcoin Slides: Strategist Warns Of Further Pain In September, But Recommends Buying Dip
Portfolio Pulse from Shanthi Rexaline
US stock futures are down, with the VIX spiking 10% and Bitcoin sliding. Nvidia is down over 1% in premarket trading. Analysts suggest focusing on defensive stocks amid mixed economic data. GitLab surged 17% on earnings, while PagerDuty and Zscaler fell over 14%.
September 04, 2024 | 11:01 am
News sentiment analysis
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NEGATIVE IMPACT
Nvidia's stock is down over 1% in premarket trading amid a broader tech sell-off and market weakness.
Nvidia is part of the tech sector, which is experiencing a sell-off. The premarket decline suggests continued pressure on tech stocks.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
PagerDuty's stock fell over 14% in premarket trading after disappointing earnings.
PagerDuty's significant premarket decline is due to disappointing earnings, impacting investor sentiment negatively.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Invesco QQQ ETF slid 0.60% in premarket trading, indicating pressure on tech-heavy indices.
The QQQ ETF is heavily weighted in tech stocks, which are under pressure, leading to a premarket decline.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
SPDR S&P 500 ETF Trust fell 0.36% in premarket trading, reflecting broader market weakness.
The SPY ETF tracks the S&P 500, which is experiencing a downturn due to negative economic data and market sentiment.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Zscaler's stock fell over 14% in premarket trading following weak earnings results.
Zscaler's premarket drop is attributed to weak earnings, leading to negative investor sentiment.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
GitLab's stock jumped nearly 17% in premarket trading following strong quarterly results.
GitLab's significant premarket gain is driven by positive quarterly results, indicating strong company performance.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90