- Wall Street in good mood at the start of the session
- Palantir and Dell will become part of the S&P500 index
- Promising results from lung cancer drug Summit Therapeutics lifts share prices by 30%
U.S. markets open Monday's cash session in good spirits. Five minutes after Wall Street opened, the Nasdaq is up 1.05%, while the S&P500 is up 0.88%. Investor attention today is focused on corporate news, particularly Apple's Glowtime event, where the new iPhone 16 is expected to be unveiled.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appCurrent volatility observed on Wall Street. Source: xStation
US100
The Nasdaq-100 Index, represented by the US100 contract is trading 0.95% higher today relative to the close of Friday's trading. However, it is worth noting that the instrument broke out below the key support zone, which was the 100-day exponential moving average (purple curve on the chart). It is the maintenance of this zone in the medium term that could be an important element defining the possible continuation of a sustained downtrend. In the medium term, on the other hand, an important point of support may be the psychological zone near the 200-day EMA (gold curve).
Source: xStation 5
Corporate news
Shares of Palantir (PLTR.US) and Dell (DELL.US) are gaining more than 6% today at the start of the session following news that both companies will become part of the S&P500 index and replace American Airlines (AAL.US) and Etsy (ETSY.US), respectively.
Boeing (BA.US) shares jumped 4% after the aircraft maker reached an agreement with the union representing factory workers, potentially avoiding a costly strike.
Apple (AAPL.US) shares are currently trading unchanged. Recall that a Glowtime event will be held today at 7 p.m., where, among other things, the new iPhone 16 is expected to be unveiled. Linked to this news are nearly 3% increases in ARM Holding (ARM.US) shares. A Financial Times report, suggests that Apple will use Arm's artificial intelligence technology in the iPhone 16.
Summit Therapeutics (SMMT.US) announced the results of a phase III trial for a lung cancer drug. Summit said its product achieved a “clinically significant benefit” over Merck's (MRK.US) Keytruda. Summit shares rose more than 30% at the Wall Street open.
ANALYSTS' RECOMMENDATION
- GE Healthcare Technologies (GEHC.US): JPMorgan initiates coverage with a neutral rating and $90 price target, citing the company's strong position in the medical imaging market and growth in diagnostic pharmaceuticals.
- U.S. Steel Corp (X.US): JPMorgan raises its rating to Outperform from Neutral, believing the Nippon steel deal will be blocked, pushing the stock higher.
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
