US Stocks Expected To Open In Red As Investors Eye Tesla Earnings: Gold Surges, Crude Slips As Analysts Predict A Stall In Risk Rally
Portfolio Pulse from Rounak Jain
US stocks are expected to open lower as investors focus on Tesla's earnings. Tech stocks like Nvidia, Apple, and Tesla fell in premarket trading. Chipmakers are under scrutiny with Qualcomm facing potential license issues. Key companies like Boeing, AT&T, and Starbucks are also in focus. Gold prices hit a new high, while crude oil prices fell due to increased US inventory.
October 23, 2024 | 11:25 am
News sentiment analysis
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NEGATIVE IMPACT
Apple experienced a premarket decline, aligning with the tech sector's overall performance. This may lead to short-term stock pressure.
Apple's premarket decline is consistent with the tech sector's performance, indicating potential short-term stock pressure.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
McDonald's hamburgers have been linked to an E-coli outbreak, which could negatively impact its stock.
The E-coli outbreak linked to McDonald's could lead to negative consumer sentiment and stock pressure.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Nvidia fell in premarket trading, reflecting a broader tech stock decline. This could indicate short-term pressure on Nvidia's stock.
Nvidia's premarket decline is part of a broader tech stock trend, suggesting potential short-term downside.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Qualcomm faces the threat of its chip designing license being canceled by Arm Holdings, which could negatively impact its stock.
The potential cancellation of Qualcomm's chip designing license is a significant risk, likely leading to negative stock impact.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
Invesco QQQ ETF declined in premarket trading, mirroring tech sector weakness. Short-term downside is likely.
The decline in QQQ reflects tech sector weakness, indicating potential short-term downside.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
Starbucks reported weak preliminary results and suspended guidance for FY 2025, which could negatively affect its stock.
Starbucks' weak results and suspension of guidance are likely to lead to negative sentiment and stock pressure.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 75
NEGATIVE IMPACT
SPDR S&P 500 ETF Trust fell in premarket trading, reflecting broader market sentiment. Short-term pressure is expected.
The premarket decline in SPY reflects overall market sentiment, suggesting short-term pressure.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
Tesla is set to release its Q3 earnings, with expectations of EPS falling below estimates. This could impact Tesla's stock negatively in the short term.
Tesla's earnings report is a significant event, and the expectation of missing EPS estimates could lead to a negative reaction in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90