Wall Street Eyes Strong Finish To The Week Despite Futures Suggesting Moderation In Tech Buying: Strategist Cautions Against Factoring Rapid, Steep Cuts Ahead Of Next Week's Fed Meeting
Portfolio Pulse from Shanthi Rexaline
U.S. stocks are holding onto optimism ahead of the Federal Reserve's rate-setting meeting, with expectations of a rate cut. Tech sector news is mixed, and some profit-taking is expected. SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ ETF (QQQ) showed gains in premarket trading. Adobe, Oracle, RH, Boeing, and Moderna are in focus due to recent earnings and guidance updates.
September 13, 2024 | 10:35 am
News sentiment analysis
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NEGATIVE IMPACT
Adobe shares fell over 8% in premarket trading after its Q4 guidance disappointed investors.
Adobe's disappointing Q4 guidance led to a significant drop in its stock price, indicating negative investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Boeing shares fell nearly 4% after workers rejected a contract, opting to go on strike.
The rejection of Boeing's contract by workers and the subsequent strike led to a decline in its stock price due to potential operational disruptions.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 85
NEGATIVE IMPACT
Moderna shares continued to decline after analysts tempered expectations and the company announced sub-par guidance for 2025.
Moderna's sub-par guidance and tempered analyst expectations led to a continued decline in its stock price, reflecting negative investor sentiment.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Oracle shares rose about 6% after raising its 2026 revenue guidance at an analyst meeting.
Oracle's raised revenue guidance for 2026 positively impacted its stock price, indicating strong future growth expectations.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Invesco QQQ ETF rose 0.15% in premarket trading, indicating positive sentiment in the tech sector.
The QQQ's premarket rise suggests positive sentiment in the tech sector, despite mixed news.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
RH shares soared about 20% following a strong earnings report.
RH's strong earnings report led to a significant increase in its stock price, reflecting positive investor sentiment.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
SPDR S&P 500 ETF Trust gained 0.25% in premarket trading, reflecting overall market optimism ahead of the Fed meeting.
The SPY's premarket gain reflects general market optimism as investors anticipate the Fed's rate decision.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70