Tech Stocks Rebound With Tesla Soaring To Best Day Since March 2021, Gold Rises As Treasury Yields Ease: What's Driving Markets Thursday?
Portfolio Pulse from Piero Cingari
Tech stocks surged on Thursday, led by Tesla's 18% rise after strong quarterly results. Despite Tesla's rally, market sentiment remained cautious. The S&P 500 and Russell 2000 were flat, while the Dow Jones fell. The Consumer Discretionary sector, influenced by Tesla, led gains. Treasury yields eased, boosting gold prices.
October 24, 2024 | 4:58 pm
News sentiment analysis
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NEGATIVE IMPACT
Carrier Global Corp. shares fell 7% following earnings results.
Carrier Global's earnings results led to a significant 7% drop in its stock price, indicating a negative market reaction to its financial performance.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
Dow Inc. shares fell 1.1% following earnings results.
Dow Inc.'s earnings results led to a 1.1% decrease in its stock price, indicating a negative market reaction to its financial performance.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
Honeywell International Inc. shares fell 4.4% following earnings results.
Honeywell's earnings results led to a 4.4% decrease in its stock price, indicating a negative market reaction to its financial performance.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
IBM shares fell over 6% following earnings results.
IBM's earnings results led to a significant drop in its stock price, indicating a negative market reaction to its financial performance.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
Southwest Airlines shares fell over 3% despite better-than-expected results and a board deal, due to potential delivery delays from Boeing's strike.
Despite strong earnings and a board deal, Southwest Airlines' stock fell due to concerns over potential delivery delays from Boeing's machinist strike.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 70
NEGATIVE IMPACT
Newmont Corp. shares fell over 9% following earnings results.
Newmont's earnings results led to a significant drop in its stock price, indicating a negative market reaction to its financial performance.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
S&P Global Inc. shares fell 2.4% following earnings results.
S&P Global's earnings results led to a 2.4% decrease in its stock price, indicating a negative market reaction to its financial performance.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
Union Pacific Corp. shares fell 5% following earnings results.
Union Pacific's earnings results led to a significant 5% drop in its stock price, reflecting a negative market response to its financial performance.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
United Rentals Inc. shares fell 2% following earnings results.
United Rentals' earnings results led to a 2% decrease in its stock price, reflecting a negative market response to its financial performance.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
CBRE Group Inc. shares rose over 9% following earnings results.
CBRE's earnings results led to a significant 9% increase in its stock price, reflecting strong market confidence in its financial performance.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
The SPDR Gold Trust rose 0.6% as Treasury yields eased, reducing pressure on gold prices.
Easing Treasury yields reduced pressure on gold, leading to a 0.6% rise in the SPDR Gold Trust. This reflects gold's sensitivity to interest rate changes.
CONFIDENCE 90
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
KKR & Co. Inc. shares rose 3.4% following earnings results.
KKR's earnings results led to a 3.4% increase in its stock price, reflecting a positive market response to its financial performance.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Lam Research Corp. shares rose 3.8% following earnings results.
Lam Research's earnings results led to a 3.8% increase in its stock price, indicating a positive market response to its financial performance.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Las Vegas Sands Corp. shares rose 1.3% following earnings results.
Las Vegas Sands' earnings results led to a 1.3% increase in its stock price, indicating a positive market response to its financial performance.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Nasdaq Inc. shares rose 1.6% following earnings results.
Nasdaq's earnings results led to a 1.6% increase in its stock price, reflecting a positive market response to its financial performance.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
ServiceNow Inc. shares rose over 5% following positive earnings results.
ServiceNow's positive earnings results led to a 5% increase in its stock price, reflecting strong market confidence in its financial performance.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Raymond James Financial Inc. shares rose over 7% following earnings results.
Raymond James' earnings results led to a significant 7% increase in its stock price, reflecting strong market confidence in its financial performance.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
T-Mobile US Inc. shares rose over 4% following positive earnings results.
T-Mobile's positive earnings results led to a 4% increase in its stock price, indicating strong market reaction to its financial performance.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Tesla's stock soared 18% following stronger-than-expected quarterly results, marking its best day since March 2021. This significant rise led the Consumer Discretionary sector gains.
Tesla's strong quarterly results exceeded expectations, leading to an 18% stock price increase. This performance significantly impacted the Consumer Discretionary sector, highlighting Tesla's influence on the market.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
United Parcel Service Inc. shares rose 5.1% following earnings results.
UPS's earnings results led to a 5.1% increase in its stock price, indicating strong market confidence in its financial performance.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Valero Energy Corp. shares rose 0.7% following earnings results.
Valero Energy's earnings results led to a 0.7% increase in its stock price, indicating a positive market response to its financial performance.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
The Consumer Discretionary Select Sector SPDR Fund rose 2.5%, driven by Tesla's strong performance.
Tesla's 18% rise significantly boosted the Consumer Discretionary sector, leading to a 2.5% increase in the XLY ETF. Tesla's performance was a major driver for this sector.
CONFIDENCE 95
IMPORTANCE 70
RELEVANCE 70