Wall Street Could Head Higher As Traders Look Forward To Retail Sales Data Ahead Of Fed Decision, Tech Stocks On The Mend: Strategist Flags This As Best-Case Scenario For Market This Week
Portfolio Pulse from Shanthi Rexaline
U.S. stocks are set for a positive start as traders anticipate the August retail sales report and a potential Fed rate cut. Tech stocks, including Intel and Microsoft, are gaining attention. Analysts expect a 25 basis-point rate cut, with labor and growth data being crucial for future market movements.
September 17, 2024 | 11:02 am
News sentiment analysis
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POSITIVE IMPACT
Intel's stock rose over 6% in premarket trading after announcing a deal to supply AI chips to Amazon's AWS.
Intel's agreement to supply AI chips to Amazon's AWS is a significant development, likely boosting investor confidence and driving the stock price up.
CONFIDENCE 95
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Microsoft's stock climbed over 1.5% after announcing a $60 billion stock buyback and a 10% dividend increase.
Microsoft's substantial stock buyback and dividend increase are positive signals to investors, likely leading to a short-term stock price increase.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
Invesco QQQ ETF gained 0.58% in premarket trading, driven by interest in tech stocks.
The premarket increase in QQQ reflects growing interest in tech stocks, suggesting a positive short-term impact.
CONFIDENCE 90
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
SPDR S&P 500 ETF Trust gained 0.38% in premarket trading, reflecting positive market sentiment.
The premarket gain in SPY suggests positive sentiment towards the broader market, likely due to anticipation of favorable economic data.
CONFIDENCE 90
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
Apple led the Nasdaq lower in the last session, contributing to mixed market performance.
Apple's performance significantly impacted the Nasdaq, leading it lower, which suggests a negative short-term impact on its stock price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Viasat's stock fell over 5.6% due to negative analyst action.
The negative analyst action on Viasat has led to a significant drop in its stock price, indicating a negative short-term impact.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70