- Wall Street indices start the last trading session of the year with declines
- Britain approves Pfizer's (PFE.US) antiviral COVID-19 pill
The last session of the year on Wall Street starts with slight gains for most stock market indices. Due to the ongoing bank holiday in most countries, today's session does not promise much volatility. The US500 index, if it can maintain its current momentum, will end 2021 with a total return of 27%. December 2021 was the best in terms of return since 2010.
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Open account Try demo Download mobile app Download mobile appA chart showing the performance of the S&P500 (US500) index in 2021. Source: Bloomberg
Company news:
ExxonMobil (XOM.US) stock fell slightly before the opening bell despite the fact the SEC filling indicated that energy behemoth will record quarterly profits for the fourth time in a row, mainly due to higher oil and gas prices. The company will officially release its earnings figures on February 1.
Advanced Micro Devices (AMD.US) stock rose 0.70% in the premarket after the chipmaker announced that acquisition process of rival Xilinx (XLNX.US) should be completed during the first quarter of 2022, delayed from its prior 2021 year-end target. Deal is worth $35 billion, however both firms said they have not yet received all of the needed approvals. Xilinx shares dropped over 2.0% before the opening bell.
Peloton (PTON.US) stock dropped more than 1.0% in premarket after JMP Securities downgraded the fitness equipment producer stock to "market perform" from "market outperform" due to the decline in interest of the company by internet users.
Pfizer (PFE.US) – Early Friday, the U.K. approved drugmakers antiviral COVID-19 pill, which is highly effective at reducing hospitalization and serious illness. This treatment has already been approved for emergency use in the U.S. and Europe.
Pfizer (PFE.US) stock witnessed a local downward correction recently, however buyers managed to halt declines around support at $57.50 which is marked with the lower limit of the 1:1 structure, 38.2% Fibonacci retracement of the last upward wave and long term upward trendline. Yesterday price broke above the downward trendline and as long as sits above, further upward move towards all-time high at 61.57 is possible. On the other hand, if sellers will manage to regain control and break below the aforementioned support zone, then another downward move towards $54.90 may be launched. Source: xStation5
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