US OPEN: Stocks open lower amid NFP report and Biden’s lead in PA and GA

• Wall Street opens slightly lower on Friday

• Biden now leads in Pennsylvania and Georgia

• Roku (ROKU.US) added 2.9 million active accounts in third quarter

American stock markets opened slightly lower on the final trading day of the week. Investors might still feel confused about the results of the US election as neither Trump nor Biden has gained 270 electoral votes yet. Nevertheless, Biden now leads in Pennsylvania and Georgia which could be a milestone for the Democratic Party candidate. Betting markets are almost certain that Biden would become the next US president. Meanwhile, investors were offered better-than-expected NFP report today. Long-awaited data showed that the US economy added 638k jobs in October (vs exp. 600k).

US2000 has climbed above the 1,650 pts mark and is now looking at pre-pandemic highs near the 1,714 pts. Key long term area may be found at 1,600 pts (23.6% Fibo retracement) and it might be viewed as an important support should moods deteriorate. Risk-on gained amid NFP report release as well as Biden’s lead in two critical swing states (Pennsylvania and Georgia). Source: xStation5

Roku (ROKU.US), a streaming platform company, posted a surprise third-quarter profit. The firm reported earnings of 9 cents a share on revenue of $452 million. Analysts expected Roku to post a loss of 40 cents a share on revenue of $367.8 million. The firm added 2.9 million active accounts in 3Q. The total number of accounts now amounts to 46 million. Roku shares rose roughly 4% after the US stock market open. 

Roku (ROKU.US) stock bounced off the support level resulting from 1:1 structure as well as EMA 50. As long as the price remains above the $200 level, an upward trend should be viewed as the baseline scenario. Source: xStation5

Peloton Interactive (PTON.US), the connected-fitness company, more than tripled its revenue in fiscal-first-quarter. The firm reported net income of 20 cents a share vs expected 11 cents a share according to FactSet consensus. Still, the stock fell as the firm pointed to possible supply issues as demand for its products soared in the post-pandemic world. 

Hershey (HSY.US) managed to beat estimates as the company reported third-quarter earnings of $1.86 per share (14 cents above estimates). Revenue came in above market expectations as well. The company pointed to strong Halloween sales.

Marriott International (MAR.US) earned 6 cents per share in the third-quarter while analysts expected a loss of 7 cents a share. The hotel operator took a great hit due to coronavirus pandemic, its profit fell 74% from a year earlier.