US OPEN: Bears regain control

• US stocks open lower
• Mixed US durable goods orders data 
• General Electric (GE.US) stock plunges despite solid quarterly results

US indices launched today’s session lower as worsening pandemic situation in China, ongoing geopolitical tensions and prospects of aggressive monetary policy tightening overshadowed upbeat quarterly results from several big companies including Raytheon Technologies, General Electric, Pepsi Co, 3M, UPS. Tech earnings will kick off on Tuesday after the bell with Alphabet and Microsoft. Meta, Amazon and Apple will report later in the week. On the data front, US manufactured durable goods rose 0.8% MoM in March, recovering from a downwardly revised 1.7% decline in the previous month but below analysts’ estimates of a 1.0% gain. The average prices of single-family houses with mortgages increased a record 2.1% from a month earlier in February, following a 1.6% gain in January due to "supply constraints".

US100 finished yesterday's session higher, however buyers failed to break above the upper limit of the  1:1 structure and price returned to the local support at 13420 pts. If current bearish sentiment prevails major support at 13000 pts may be at risk. Source: xStation5

Company news:

General Electric (GE.US) stock plunged over 3.0% before the opening bell despite the fact the industrial conglomerate posted upbeat quarterly results, however expects full-year earnings at the lower end of its previous range due to challenges from inflation and supply chain issues.

General Electric (GE.US) stock has been moving sideways in recent weeks, however weaker outlook provided fuel for market bears. Price is currently testing the lower limit of the consolidation zone at $85.35, Should break lower occur, downward move may accelerate towards lower boundary of the descending channel. On the other hand if buyers will manage to regain control, another upward impulse towards resistance at $96.00 may be launched. Source: xStation5

United Parcel Services (UPS.US) stock rose over 1.5% in premarket after the shipping and logistics giant recorded adjusted earnings per share of $3.05 on revenues of $24.38 billion, easily beating market estimates of $2.88 earnings per share on $23.79 billion in revenue.

PepsiCo (PEP.US) stock fell slightly in premarket despite the food and beverage giant posted better than expected quarterly results and raised its full year guidance due to higher prices and a rebound in demand at theaters and restaurants.

Twitter (TWTR.US) stock rose slightly in premarket following the news that the social media giant has agreed to Elon Musk's $ 44 billion bid to take the company private.