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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

US OPEN: Wall Street consolidates at the start of Thursday session

14:42 6 October 2022
  •  Wall Street consolidates at start of session

  • Uncertainty surrounding Twitter acquisition

  • Goldman Sachs raises recommendations for two companies

Thursday's session on Wall Street began with major US benchmarks. The upward impulse following higher claims has slowed, with the US500 testing levels near 3780 points. Investors are waiting for tomorrow's NFP report.

Macro data:

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Benefit claims rise to 219k from the previous week's level of 190k (revised from 193k). An increase to 204 thousand was expected. 

This is, of course, a sizable increase, which is rarely seen in the markets, but still, in the context of pre-pandemic averages, applications remain low. 

Continued applications fall at 1.361 million against an expectation of 1.350 million, with a previous level of 1.347 million. It can be seen that there is a fairly mixed reading here as well. 

However, the data does not cause much change in the market. Confirmation of the weakness of the labor market could come only tomorrow, if the NFP shows a very small increase in employment. 

Wall Street index quotes. Source: xStation 5

 

Compiled charts of the US500 and VIX index on the D1 interval. At the start of today's trading session, the benchmark S&P500 is losing close to 0.1%. Source: xStation 5

News:

  • Goldman Sachs Bank raised its recommendation on Take-Two Interactive (TTWO.US) shares to "buy" from its previous "neutral" rating. The institution justifies its decision with improving game industry fundamentals. The target price at $165 per share, previously was $131.

  • Pinterest (PINS.US) shares are currently gaining more than 5% after Goldman Sachs raised its recommendation to "buy" from "neutral." The bank believes in the future monetization capacity of the business.

  • Uncertainty surrounding Twitter (TWTR.US) remains unchanged, with the stock losing nearly 2% early in today's session. WSJ reported that the parties have not agreed on a deal price, and Reuters reported that private equity funds Apollo Global and Sixth Street Partners do not intend to provide financing to Musk.

News from companies in the S&P500 (US500) index. Source: Bloomberg

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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