U.S. Stock Futures Fluctuate Amid Government Shutdown Impact
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 day ago
0mins
Should l Buy DASH?
Source: Benzinga
- Market Fluctuations: U.S. stock futures showed volatility on Tuesday following a mixed close on Friday, with the S&P 500 down 1.4%, the Dow slipping 1.2%, and the Nasdaq declining 2.1% last week, reflecting cautious investor sentiment amid uncertainty.
- Government Shutdown Impact: The failure of Congressional Democrats and the Trump administration to reach a funding deal through September has triggered a partial government shutdown, which could exacerbate market instability and undermine investor confidence.
- Bond Yields: The 10-year Treasury bond yield stands at 4.02%, while the two-year bond yield is at 3.39%, indicating market expectations for future interest rate policies, with the CME Group's FedWatch tool showing a 90.2% likelihood of rates remaining unchanged in March.
- Stock Performance: Ocular Therapeutix's stock surged 33.56% ahead of its clinical trial data release for dry eye disease, while ZIM Integrated Shipping Services rose 34.46% following its acquisition agreement with Hapag-Lloyd, highlighting positive market reactions in specific sectors.
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Analyst Views on DASH
Wall Street analysts forecast DASH stock price to rise
21 Analyst Rating
18 Buy
3 Hold
0 Sell
Strong Buy
Current: 162.340
Low
224.00
Averages
278.67
High
330.00
Current: 162.340
Low
224.00
Averages
278.67
High
330.00
About DASH
DoorDash, Inc. is engaged in providing services that reduce friction in local commerce and help merchants connect with consumers in their communities. The Company's primary offerings include the DoorDash Marketplace and the Wolt Marketplace (together, the Marketplaces), and its Commerce Platform. The Company's Marketplaces operate in over 30 countries across the globe and provide an integrated suite of services that help merchants establish an online presence, connect with consumers in their communities, and solve mission-critical challenges, such as customer acquisition, demand generation, order fulfillment, merchandising, payment processing, and customer support. It also offers advertising as a value-added service through its Marketplaces to help merchants and consumer packaged goods companies increase consumer engagement. The Company also has offsite advertising capabilities. Its white-label delivery fulfillment services include DoorDash Drive On-Demand and Wolt Drive.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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See More
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- Treasury Yield Dynamics: The 10-year Treasury bond yielded 4.07%, while the two-year bond stood at 3.45%, indicating market expectations for unchanged interest rates, with CME Group's FedWatch tool projecting a 92.1% likelihood of no rate hikes in March.
- Stock Highlights: Ovintiv's stock rose 4.17% following its announcement of a $3 billion cash sale of its Anadarko assets in Oklahoma, showcasing the company's proactive asset management strategy that enhances financial flexibility.
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See More
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- Revenue Growth Expectations: Wall Street anticipates DoorDash will report quarterly revenue of $3.99 billion, reflecting a substantial 39% year-over-year increase, indicating significant future growth potential supported by a healthy consumer base.
- Optimistic Analyst Ratings: According to Koyfin, 34 out of 44 analysts have rated DoorDash as ‘Buy’ or higher, demonstrating strong market confidence in its future performance, with an average price target of $272.07, implying a 68% upside potential.
- Advertising Revenue Driver: Both DoorDash and Instacart are positioning advertising as a key growth driver, as more consumer brands turn to these platforms for targeted marketing, which is expected to further enhance DoorDash's market share and revenue growth.
- Retail Sentiment Shift: Data from Stocktwits shows that retail sentiment on DoorDash has shifted from ‘neutral’ to ‘bullish’ over the past three months, indicating a significant increase in investor confidence regarding the company's future performance, despite a nearly 24% decline in stock price over the past year.
See More
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- Investor Focus: As futures rise, investors may pay closer attention to the performance of specific stocks, especially amid increasing market volatility.
- Premarket Coverage: Benzinga's premarket coverage highlights the market's interest in individual stocks, potentially guiding investors' buying and selling strategies.
- Data Source: Market news and data provided by Benzinga APIs offer real-time information to investors, assisting them in making more informed investment decisions.
See More
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- Fear Index Update: The CNN Money Fear & Greed Index registered at 37.3 on Tuesday, slightly up from 36.1, indicating a minor easing in market sentiment while still remaining in the 'Fear' zone, suggesting cautious investor behavior.
- Market Performance: On Tuesday, U.S. stocks saw slight gains, with the S&P 500 rising approximately 0.1% to close at 6,843.22, despite all major indices experiencing losses last week, including a 1.4% drop in the S&P 500.
- Sector Performance Divergence: Most sectors within the S&P 500 closed negatively, with consumer staples, energy, and materials stocks suffering the largest losses, while real estate and financial stocks bucked the trend, indicating a divergence in sector performance amid overall market uncertainty.
- Manufacturing Index Decline: The NY Empire State Manufacturing Index fell to 7.1 in February, down from 7.7 the previous month and below market expectations of 7, reflecting a slowdown in economic activity that could negatively impact future market sentiment.
See More
