Wall Street On Edge As Traders Look Forward To Fed's First Rate Cut In 4.5 Years: Strategist Says This Will Dictate How Stocks Perform Longer Term
Portfolio Pulse from Shanthi Rexaline
Traders are anticipating the Federal Reserve's first rate cut in 4.5 years, with expectations of a 25 basis point reduction. This decision is crucial for future stock performance. The SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ ETF (QQQ) saw slight gains in premarket trading. United States Steel Corporation (X) rose over 3% due to potential acquisition developments. General Mills (GIS) and Steelcase (SCS) are set to release earnings reports.
September 18, 2024 | 10:41 am
News sentiment analysis
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NEUTRAL IMPACT
General Mills (GIS) is set to release its earnings report, which could impact its stock price depending on the results.
GIS's upcoming earnings report is a key event that could influence its stock price, depending on whether results meet expectations.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Steelcase Inc. (SCS) will report its earnings after the market close, which could affect its stock price based on performance.
SCS's earnings report could lead to stock price changes, contingent on how the results compare to market expectations.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
The Invesco QQQ ETF gained 0.11% in premarket trading, reflecting positive sentiment ahead of the Fed's rate cut decision.
The QQQ's premarket gain indicates investor optimism about the potential positive impact of a Fed rate cut on tech stocks.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) gained 0.10% in premarket trading as traders anticipate the Federal Reserve's rate cut decision.
The SPY's slight gain reflects market optimism ahead of the Fed's anticipated rate cut, which could positively impact stock prices.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
United States Steel Corporation (X) rose over 3% in premarket trading due to potential acquisition developments with Nippon Steel.
The rise in X's stock price is driven by positive news regarding acquisition talks, which could lead to significant corporate changes.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90