- US stocks opened higher
- Broadcom (AVGO.US) in talks to acquire VMware (VMW.US)
- Electronic Arts (EA.US) is seeking a buyer or merger partner
US indices launched today's session higher in an attempt to recover some of the recent losses. The Dow advanced over 1.0%, while the S&P 500 and Nasdaq added 0.8% and 0.5%, respectively as sentiment improved after President Joe Biden said he was considering reducing tariffs on some products imported from China. “I am considering it,” Biden said. “We did not impose any of those tariffs. They were imposed by the last administration and they’re under consideration.” This week investors will also focus on quarterly results from Zoom Video, Costco, Nvidia, Dollar General, Nordstrom and Macy’s.
US2000 fell sharply on Friday, however the downward move turned out to be short-lived and the index finished the session around the flatline. Nevertheless as long as US2000 sits below resistance at 1879 pts, the main sentiment remains bearish. Source: xStation5
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Electronic Arts (EA.US) stock rose over 3.0% in premarket after Puck News reported that the video game maker is looking for a buyer or merger partner. EA has reportedly spoken with Walt Disney, Apple and Amazon.
Electronic Arts (EA.US) stock launched today’s session higher and broke above the major resistance zone around $ 132.50 which is marked with upper limit of the 1:1 structure, 23.6% Fibonacci retracement of the upward wave launched in 2018 and upper boundary of the descending channel. As long as price sits above, upward move may accelerate towards local resistance at $ 147.00, where November 2021 highs are located. Source: xStation5
Starbucks (SBUX.US) after 15 years decided to exit the Russia market, joining companies like McDonald's, Exxon Mobil and British American Tobacco in withdrawing from the country completely.
GameStop (GME.US) stock rose more than 3.0% before the opening bell after the video game retailer launched a digital wallet for cryptocurrencies and NFTs ahead of the launch of its NFT marketplace later this year.
VMware (VMW.US) shares skyrocketed 23% after WSJ reported that Broadcom (AVGO.US), whose stock fell nearly 5.0%, was in advanced talks to buy the cloud computing company in what could become of the year's biggest deal.
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