US Stocks Set To Open Higher As Tesla's Strong Profit Margins Win Over Wall Street: Wharton Economist Says 'Under-Loved' Bull Market Could See 'Significant Upside'
Portfolio Pulse from Rounak Jain
US stocks are set to open higher, driven by Tesla's strong profit margins despite missing revenue expectations. The Dow Jones had its worst session in over a month, with Nvidia and Apple falling over 2%. Boeing reported a loss, while AT&T exceeded earnings expectations. Several companies, including Dow Inc., American Airlines, and UPS, are set to announce earnings today. Tesla remains in focus after beating margin and EPS estimates. The SPDR S&P 500 ETF and Invesco QQQ ETF showed positive premarket movements.

October 24, 2024 | 11:11 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
The Invesco QQQ ETF surged 0.77% in premarket trading, reflecting positive sentiment in tech stocks.
The increase in QQQ in premarket trading reflects positive sentiment in tech stocks, suggesting a short-term price rise.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
The SPDR S&P 500 ETF Trust rose 0.42% in premarket trading, indicating a positive market sentiment.
The rise in SPY in premarket trading suggests a positive sentiment in the broader market, likely leading to a short-term price increase.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
AT&T exceeded earnings expectations and added over 403,000 new subscribers, reporting $30.2 billion in revenue.
AT&T's better-than-expected earnings and subscriber growth are positive indicators for its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Tesla's strong profit margins and EPS beat expectations, keeping the stock in focus despite missing revenue targets.
Tesla's strong profit margins and EPS beat expectations, which is likely to positively impact its stock price in the short term. The focus on Tesla in the market suggests high relevance and importance.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
Apple's stock fell over 2% amid a broader market decline, contributing to the negative performance of tech stocks.
Apple's stock decline is part of a broader market trend affecting tech stocks, leading to a negative short-term impact.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Boeing reported a loss in Q3 and faces ongoing labor issues with machinists rejecting a wage hike deal.
Boeing's Q3 loss and labor issues with machinists rejecting a wage hike deal are likely to negatively impact its stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
Nvidia's stock fell over 2% amid a broader market decline, despite a record profit report from its supplier SK Hynix.
Nvidia's stock decline is part of a broader market trend, and despite positive news from its supplier, the immediate impact is negative.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70