Markets in the US open Monday's cash session in good spirits. As of 15 minutes after the Wall Street opening, the Nasdaq is gaining 1.15%, while the S&P500 is losing 0.85%. Investor attention today is focused on corporate news and PMI data for the service sector.
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Create account Try a demo Download mobile app Download mobile appCurrent volatility observed on Wall Street. Source: xStation
US100
The Nasdaq-100 index, represented by the US100 contract is trading 1% higher today compared to last week's close. The index continues its dynamic uptrend all the time, although at the time of writing this entry the supply side is retesting a key support point, which is the 50-day EMA (blue curve). From a technical perspective, it seems that the key to sustaining the uptrend may be whether the bulls manage to defend the zone around the 50-day EMA (blue curve), which has historically been an important checkpoint for the demand side.
Source: xStation
Corporate news
Shares of AI and semiconductor companies are gaining ground today after Foxconn (HHPD.UK) reported record AI revenue of $64.7 billion (well above forecasts).
U.S. Steel (X.US) shares are gaining nearly 3.5% ahead of the opening of the Wall Street session after Donald Trump said the new tariffs would make the company more profitable and make more money
Tesla (TSLA.US) shares gain 2.4% after Stifel raised its target price for the company's shares to $492
Uber (UBER.US) shares gain nearly 5.5% after the company announced a $1.5 billion accelerated share buyback plan. What's more, Wedbush included the company in its list of selected companies worth watching for this year.
United Airlines (AAL.US) shares are also doing very well. The airline giant's shares are gaining 5.5% after many investment banks raised their recommendations for the company's shares.
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