- Wall Street indices open lower
- US500 looks towards yesterday's lows
- GitLab surges after reporting profit for the first time
Wall Street indices launched today's cash session slightly lower. Declines in the United States come in spite of a rather solid European session, where major indices from the Old Continent trade higher. USD and US indices may see some more volatility around 3:00 pm GMT when two important reports from the United States are released - services ISM index for November as well as JOLTS report on job openings for October.
Source: xStation5
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Create account Try a demo Download mobile app Download mobile appTaking a look at S&P 500 futures (US500) at an intraday interval (H1), we can see that the index has been trading in a sideways move recently. Price moves on the index have been mostly limited to the 4,535-4,580 pts range over the past two weeks. A pullback yesterday failed to reach the 4,550 pts support and the index recovered part of the losses later on. However, a new wave of selling can be seen today with US500 moving dangerously close to yesterday's daily lows. A break below the aforementioned 4,550 pts area would open the way for a test of the lower limit of the trading range at 4,535 pts.
Company News
Shares of GitLab (GTLB.US) surge today after the company reported positive adjusted operating profit for the first time. Company reported a 32% YoY jump fiscal-Q3 revenue, to $149.7 million (exp. $141.5 million), and adjusted EPS of $0.09, while market expected an adjusted loss per share of $0.01. On an unadjusted basis, company reported a net loss of $285.2 million, or $1.48 per share. Loss was attributed to a tax adjustment company made during the quarter. GitLab expects fiscal-Q4 revenue to reach $157-158 million and adjusted EPS to reach $0.08-0.09.
Robinhood Markets (HOOD.US) is trading slightly higher today. The company informed that notional crypto trading volumes in November were around 75% higher than in October.
GitLab (GTLB.US) shares are surging today following release of solid fiscal-Q3 earnings report. Stock jumped above the $53.00 resistance zone, which acted as the upper limit of the trading range, at the start of today's trading. The near-term resistance to watch is $65.00 area, where the textbook target of a breakout from trading range can be found. Source: xStation5
US-listed shares of Chinese EV manufacturer NIO (NIO.US) launched today's trading on Wall Street higher following release of Q3 earnings report. Company reported revenue at 19.07 billion CNY (exp. 19.37 billion CNY) as well as adjusted loss per share of 2.67 CNY (exp. -2.53 CNY). Gross margin at 8% was below 8.2% expected and also significantly below last year's 13.3%. Vehicle margin at 11.0% was better than 10.2% expected, and company attributed this result to higher average selling price and ongoing vehicle cost reduction. NIO expects Q4 revenue to reach 16.08-16.70 billion CNY, significantly below 21.35 billion CNY expected.
Take-Two Interactive (TTWO.US) launched today's trading lower. Company released an official trailer for its long-awaited game Grand Theft Auto VI. While the trailer itself was rated positively, analysts were disappointment with 2025 planned release and lack of an exact release date.
NIO (NIO.US) is trading higher in spite of a rather disappointing earnings release. Share price is bouncing off the $7.25 support zone, which it has failed to breach a few times recently. The near-term resistance zone to watch can be found ranging below $8.25 handle, and is marked with previous price reactions. Source: xStation5
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