- Wall Street resists declines, although weakness is evident among retailers and oil and gas companies
- Nvidia (NVDA.US) gains almost 3.5% and supports sentiment in the tech and semiconductor sectors. Meta Platforms (META.US) is also doing well
- Mixed data from the US; weak Richmond Fed and slightly higher than forecast but weaker than previous Conference Board consumer sentiment and higher inflation expectations
Today's US session has been dictated by buyers, although smaller-cap companies in the S&P 500 continue to perform noticeably weaker against the backdrop of technology behemoths. Data released from the States today suggests that consumer sentiment fell slightly, but turned out to be marginally better than expected. At the same time, however, the June regional indices are weakening and have had a series of fairly poor results. The S&P 500 gains around 0.25% today, while the DJIA loses close to 0.4%.
- USA, Conference Board consumer confidence index for June. Currently: 100.4; expected: 100.2; previous: 102.0
- Richmond Fed index for June. Current: -10.0; Expected: 2.0 Previous: 0.0
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Create account Try a demo Download mobile app Download mobile appAmong US companies, the semiconductor and software sectors are the best performers today. BigTech companies continue to perform well, with Nvidia joining them after a sizable sell-off. Source: xStation5
The US100 index is trying to hold the support of the uptrend defined by the 50-period exponential moving average (blue curve on the chart). From a technical point of view, it appears that the most important support structure in the medium term is the golden curve, which represents the 200-period EMA (it was this curve that capped the declines observed in the market at the end of May this year). Source: xStation
Company news
- Birkenstock (BIRK.US) shares are losing nearly 4% at the start of the session following news that L Catterton Management intends to sell 14 million shares in the company. L Catterton will own approximately 73% of Birkenstock after the sale, according to the statement. Yesterday, the company's shares reached their highest levels since the company's IPO.
Source: xStation
- SolarEdge (SEDG.US) the solar equipment manufacturer reported that one of its customers has filed for bankruptcy, as a result of which the company may not recover $11.4 million owed to it. Shares are losing more than 15%.
- Core Scientific (CORZ.US) gains almost 8% after announcing a new contract with CoreWeave.
- Gap (GPS.US) is up 4% after TD Cowen upgraded the apparel retailer to a 'buy' rating, saying the company is in the "early stages" of a positive transformation of its all, four brands.
- Spirit Aero Systems (SPR.US) is losing almost 6% after Bloomberg reported that Boeing has changed its proposed cash financing with the company to a deal funded by proceeds from the sale of shares.
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