S&P 500, Nasdaq Futures Mixed As Rate-Cut Hopes Weigh On Techs: Fund Manager Sees Near-Term Corrections As Buying Opportunities
Portfolio Pulse from Shanthi Rexaline
U.S. stocks are expected to open mixed as traders anticipate a Federal Reserve rate cut. Small-caps are outperforming, with the Russell 2000 futures rising. Analysts are divided on the impact of the rate cut, with some seeing it as a buying opportunity. Key stocks in focus include Trump Media & Technology Group, Apple, and Intel.
September 16, 2024 | 10:52 am
News sentiment analysis
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POSITIVE IMPACT
Trump Media & Technology Group rose over 3.5% in premarket trading following news related to its owner, Donald Trump.
The stock rose due to news involving its owner, which could attract investor interest and drive short-term gains.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Intel shares climbed over 3% in premarket trading on news of a $3.5 billion deal to supply chips to the U.S. military.
The significant deal with the U.S. military is likely to boost Intel's revenue and investor sentiment, driving short-term gains.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 80
NEUTRAL IMPACT
Invesco QQQ ETF edged down 0.24% in premarket trading, reflecting mixed sentiment in tech stocks ahead of the Fed's rate decision.
The QQQ is down in premarket trading, indicating uncertainty in tech stocks as traders await the Fed's rate decision.
CONFIDENCE 90
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
SPDR S&P 500 ETF Trust edged down 0.02% in premarket trading as traders anticipate a Fed rate cut.
The SPY is slightly down in premarket trading, reflecting mixed market sentiment ahead of the Fed's rate decision.
CONFIDENCE 90
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Apple shares fell over 1.6% in premarket trading due to lower-than-expected preorders for the Pro series.
Lower-than-expected preorders for Apple's Pro series could negatively impact short-term stock performance.
CONFIDENCE 95
IMPORTANCE 70
RELEVANCE 80