US OPEN: Dow Jones reclaims 31,000 pts, Nasdaq jumps 1%

• US indices launched Friday's cash trading higher

• Dow Jones looks towards 31,100 pts resistance zone

• Official confirmation of Zendesk acquisition at $77.50 per share

Indices from Wall Street are set to launch today's cash trading session higher, following an overnight rally on the futures market. Nasdaq was a top performer at the cash open with a 1% bullish price gap. S&P 500 launched cash trading 0.9% higher while Dow Jones jumped 0.8%. 

Economic calendar for the afternoon today is quite empty. Traders will be offered University of Michigan consumer sentiment data for June at 3:00 pm BST but it will be a revision therefore it should not have much of an impact on the market. However, report is noteworthy as Fed Chair Powell admitted that the jump in UoM inflation expectations data was one of the reasons why Fed decided to hike rates by 75 basis points rather than 50 basis points.

Dow Jones (US30) is trading higher today, along with other Wall Street indices. A recent sell-off on the index has been halted at the 38.2% retracement of the post-pandemic recovery move and the index started to regain ground later on. A zone ranging above the 31,100 pts mark is a near-term resistance to watch. However, even a break above it would not snap a downtrend structure as a break above previous local high in the 33,100 pts area would be needed for it. Source: xStation5

Earlier today we published a post on Zendesk (ZEN.US) about the Dow Jones report saying that a buyout deal between the company and private equity firms may be reached within days. Confirmation came even sooner with an official announcement today ahead of the Wall Street session open. Hellman & Friedman together with Permira, two private equity firms, agreed to acquire the company for $10.2 billion, or $77.50 per share. Shareholders of Zendesk will receive payment fully in cash. Note that the agreed price is much lower than pre-market quotes but still over 30% higher than yesterday's closing price.

Twitter (TWTR.US) is trading higher at the start of a session today. Earlier in the day Insider reported that the company has agreed to provide Elon Musk with real-time user data to help alleviate billionaire's concerns. Musk said earlier that he may drop his plan to acquire Twitter unless the company provides more data to support its calculations on the number of fake accounts.

Shopify (SHOP.US) trades higher following a recommendation from Morgan Stanley. The Bank resumed coverage of the company with an "equal-weight" recommendation and $450.00 price target.

Twitter (TWTR.US) launched today's trading slightly higher as a report saying that the company provide more user data to Elon Musk boosted hopes that acquisition will go through. Stock is trying to clear the resistance zone ranging below $39.00 mark, what would open the way for a test of the mid-term resistance in the $45.00 area. Source: xStation5