US Stocks Likely To Open Higher As Investors Eye GDP Print, Strong Alphabet Results To Kick Off 'Mag 7' Earnings Week: Strategist Flags November As 'Best Month Of The Year' For Markets
Portfolio Pulse from Rounak Jain
US stocks are expected to open higher as investors focus on GDP data and strong earnings from Alphabet, which beat revenue and EPS expectations. AMD fell 8% in premarket due to disappointing Q4 guidance. The 'Mag 7' earnings week continues with Apple, Microsoft, Meta, and Amazon. SPY and QQQ ETFs showed slight gains in premarket trading.
October 30, 2024 | 11:08 am
News sentiment analysis
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NEGATIVE IMPACT
AMD's stock fell 8% in premarket trading due to disappointing Q4 revenue guidance, despite beating Q3 revenue expectations.
AMD's Q4 guidance fell short of expectations, causing a significant drop in premarket trading, despite positive Q3 revenue results.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 85
POSITIVE IMPACT
Alphabet reported strong Q3 earnings, beating revenue and EPS expectations, leading to a 6% surge in premarket trading.
Alphabet's strong earnings report, with revenue and EPS exceeding expectations, has led to a significant premarket price increase, indicating positive investor sentiment.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Alphabet reported strong Q3 earnings, beating revenue and EPS expectations, leading to a 6% surge in premarket trading.
Alphabet's strong earnings report, with revenue and EPS exceeding expectations, has led to a significant premarket price increase, indicating positive investor sentiment.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Invesco QQQ ETF gained 0.15% in premarket trading, driven by strong tech earnings and positive market sentiment.
The QQQ ETF's premarket gain reflects positive sentiment in the tech sector, bolstered by strong earnings from companies like Alphabet.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
SPDR S&P 500 ETF Trust rose 0.20% in premarket trading, reflecting positive sentiment in the broader market.
The SPY ETF's premarket rise indicates positive market sentiment, likely driven by strong earnings reports and economic data anticipation.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70