US Stocks Likely To Open In Green As Investors Eye 'Magnificent 7' Earnings This Week: Oil Prices Tumble, Expert Highlights Best 'Sell In May' Period Since 2009
Portfolio Pulse from Rounak Jain
U.S. stocks are expected to open positively as investors focus on earnings from the 'Magnificent 7' companies, including Apple, Microsoft, Alphabet, Meta, and Amazon. Oil prices have tumbled due to geopolitical tensions, impacting Exxon Mobil and Occidental Petroleum negatively. Delta Air Lines rose after suing CrowdStrike over an IT outage. Rising treasury yields could pose a risk to the market despite strong earnings.
October 28, 2024 | 11:30 am
News sentiment analysis
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NEGATIVE IMPACT
CrowdStrike faces a lawsuit from Delta Air Lines over a July IT outage.
The lawsuit from Delta Air Lines over an IT outage could negatively impact CrowdStrike's stock, likely leading to a short-term price decrease.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
Occidental Petroleum's stock fell over 2% in premarket trading due to falling crude oil prices.
Falling oil prices due to geopolitical tensions have negatively impacted Occidental Petroleum's stock, likely leading to a short-term price decrease.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
TSMC shares fell 1.7% after cofounder warned of challenges due to geopolitical tensions.
Warnings from TSMC's cofounder about geopolitical challenges have negatively impacted its stock, likely leading to a short-term price decrease.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Exxon Mobil's stock fell over 2% in premarket trading due to falling crude oil prices.
Falling oil prices due to geopolitical tensions have negatively impacted Exxon Mobil's stock, likely leading to a short-term price decrease.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Apple is set to report earnings this week, which could cushion any downside in the market.
Apple is part of the 'Magnificent 7' whose earnings are anticipated to positively influence the market. Strong earnings could lead to a short-term price increase.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Amazon is set to report earnings, contributing to the 'Magnificent 7' market focus.
Amazon's earnings are anticipated to positively influence the market, potentially boosting its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Delta Air Lines rose over 2% after suing CrowdStrike for an IT outage.
The legal action against CrowdStrike over a costly IT outage has positively impacted Delta's stock, likely leading to a short-term price increase.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Alphabet is set to release earnings, contributing to the 'Magnificent 7' market focus.
Alphabet's earnings are anticipated to positively influence the market, potentially boosting its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Meta Platforms is among the 'Magnificent 7' reporting earnings this week.
Meta's earnings are expected to be a key market driver, potentially leading to a positive short-term impact on its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Microsoft's upcoming earnings report is part of the 'Magnificent 7' focus this week.
Microsoft's earnings are expected to be a key market driver, potentially leading to a positive short-term impact on its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80