Wall Street On Wait-And-Watch Mode Ahead Of Inflation Data, Bitcoin Holds Above 65.5K: Analyst Says Volatility Ahead Providing Better Entry Point Into Long-term Bull Market
Portfolio Pulse from Shanthi Rexaline
Wall Street is in a wait-and-watch mode ahead of key inflation data, with index futures indicating a modestly lower opening. The SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ ETF (QQQ) showed slight movements in premarket trading. BlackBerry (BB) and Costco (COST) saw declines following earnings announcements, while Bristol Myers Squibb (BMY) rose after FDA approval of a new drug. Analysts predict increased volatility, providing potential entry points into a long-term bull market.
September 27, 2024 | 10:39 am
News sentiment analysis
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POSITIVE IMPACT
Bristol Myers Squibb shares rose over 6% after FDA approval of Cobenfy, a new schizophrenia treatment.
BMY's significant rise is due to the FDA approval of a new drug, a positive development for the company.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 95
NEUTRAL IMPACT
Invesco QQQ ETF fell 0.08% in premarket trading, indicating slight investor caution ahead of inflation data.
QQQ's slight premarket decline reflects investor caution. The inflation data release could impact its short-term performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
SPDR S&P 500 ETF Trust (SPY) edged up 0.03% in premarket trading, reflecting cautious optimism ahead of inflation data.
SPY's slight premarket increase suggests cautious optimism. The upcoming inflation data could influence its short-term movement.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
BlackBerry shares fell over 1.50% in premarket trading following the company's earnings announcement.
BB's decline is directly linked to its earnings announcement, indicating a negative market reaction.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Costco shares were down about 1.30% in premarket trading following its earnings report.
COST's decline is attributed to its earnings report, suggesting a negative market response.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90