- US stock markets launched session lower
- US 10-year Treasury rose to 2.70%
- Robinhood (HOOD.US) stock plunges after Goldman downgrade
US indices launched today's session lower and are now heading for a weekly decline as investors digested hawkish rhetoric from several FED members while watching developments in the Russia-Ukraine war. The EU officially confirmed additional sanctions on Russia which include ban on Russian coal imports (although only from August) and pledged to take further steps to ban Russian energy sales across the continent following the Russian attack on a train station during which over 30 people were killed. Japan also banned Russian coal imports on Friday. Additionally stocks are being pressured by the selloff in bonds. Today the US 10-year Treasury jumped to 2.70%, the highest level since October 2019.
US100 fell sharply in recent days however sellers struggle to break below major support around 14355 pts which is marked with 23.6% Fibonacci retracement of the upward wave launched in March 2020 and previous price reactions. If they succeed, sell-off may accelerate towards next support at 13910 pts which is marked with previous price reactions. On the other hand, if buyers become more active, then the nearest resistance to watch lies at 15000 pts. Source: xStation5
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Robinhood (HOOD.US) stock fell over 4.0% in premarket after trading platform was downgraded by Goldman Sachs from neutral to sell amid profitability concerns and fading retail engagement, especially among its lower end customers.
Robinhood (HOOD.US) stock rose sharply at the end of March following news that company plans to expand trading hours, however sellers regained control at $16.45 resistance and price resumed downward move. Stock launched today's session with a bearish price gap and is currently testing local upward trendline. Should break lower occur, major support at $10.00 may be at risk. Source: xStation5
CrowdStrike (CRWD.US) jumped more than 3.5% in premarket after the cloud computing company received authorization to protect critical assets of the U.S. Department of Defense.
Kroger (KR.US) shares rose nearly 2.0% before the opening bell after Bank of America upgraded the food retailer to ‘buy’ from ‘neutral’, as it believes that share price could rally 25% due to rising food prices.
Tesla (TSLA.US) - during the opening ceremony of a new $1.1 billion plant in Austin, Texas Elon Musk said the company will start selling cybertruck next year.
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