- US indices launched today's cash trading lower
- Disappointing results from major US banks
- Lockheed Martin (LMT.US) stock plunges after Goldman downgrade
Three major Wall Street indices launched today's session lower, with. Dow Jones is trading 0.35% lower, while the S&P 500 and Nasdaq both fell 0.50% as fresh quarterly results of big banks added concerns regarding potential recession. JPMorgan Chase kicked off the fourth-quarter earnings reporting season with upbeat results. However, stock dropped 2.0% in premarket after the US largest bank warned that it is setting aside $1.4 billion in anticipation of a mild recession. Bank of America also declined about 2% despite reporting a better-than-expected fourth-quarter profit. Meanwhile Wells Fargo and BlackRock posted weak quarterly earnings.
S&P 500 index stocks categorized by sectors and industries. Size represents market cap. Source: xStation5
US500 bounced of key resistance at 4000 pts and is currently testing 200 sma (RED LINE). Should break lower occur, downward impulse may accelerate towards next support at 3900 pts. On the other hand, if buyers manage to break above the long-term downward trendline, a road towards another major resistance at 4175 pts will be left open. Source: xStation5
Company news:
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Create account Try a demo Download mobile app Download mobile appLockheed Martin (LMT.US) stock fell nearly 3.0% in -off hours trading after Goldman Sachs downgraded the defense company to sell from neutral and lowered its price target by $56 to $332 due to potential vulnerability to any changes in government budgets.
Lockheed Martin (LMT.US) stock launched today's session with a bearish price gap and is currently trading below major support at $457.50, which is marked with lower limit of the local 1:1 structure, previous price reactions and 23.65 Fibonacci retracement of the upward wave launched at the beginning of the pandemic. If current sentiment prevails, nearest support to watch can be found around $431.80. Source: xStation5
Tesla (TSLA.US) stock fell 6.0% in premarket as the company plans to lower prices of its popular Model 3 and the Model Y SUV Crossover in the U.S. and Europe again.
BlackRock (BLK.US) shares dropped 0.5% in premarket after the world's largest asset manager recorded weaker than expected Q4 profit as a recent sell-off on the global market had a negative impact on income, while assets under management declined.
Wells Fargo (WFC.US) stock fell nearly 4% in premarket after a major US bank posted disappointing profits for the latest quarter, weighted down by a recent settlement and the need to build-up reserves.
Delta Air Lines (DAL.US) shares plunged over 4,0% before the opening bell after the airline maintained its full-year financial outlook despite upbeat quarterly profit, which were supported by robust travel demand.
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