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.
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 extends rebound amid lower yields

15:49 3 March 2023
  • US indices launched today's cash trading higher
  • Lower yields bring some respite to tech sector

  • (AI.US) stock surges on upbeat quarterly results

  • Dell Technologies (DELL.US) stock plunges on weak guidance

Three major Wall Street indices launched today's session higher. Dow Jones gains 0.20%, while S&P 500 and Nasdaq rose 0.40% and 0.50% respectively as investors digested Fed official speeches, while the yield on benchmark 10-year Treasury note fell below the key 4% level. Moods improved  after Fed Bostic, a non-voting member in 2023, said that he still sees the central bank raising rates by another 25bp in March. Now investors await the ISM report for the services sector.

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S&P 500 index stocks categorized by sectors and industries. Size represents market cap. Source: xStation5

US100 managed to return above psychological12000 pts on Thursday and upbeat sentiment can be spotted also today. As long index sits above the aforementioned level, upward move may accelerate towards resistance at 13000 pts. Source: xStation5

Company news:

Dell Technologies (DELL.US) shares plunged over 3.5% in premarket after the computer hardware maker issued weak outlook for FY24, which overshadowed upbeat Q4 financial results and  dividend hike.

Dell Technologies (DELL.US) stock launched today's session lower below major resistance at $39.65, which is marked with previous price reactions and 23.6% Fibonacci retracement of the downward wave started in February 2022. As long as price sits below, downward move may deepen towards October 2022 lows at $33.00. Source: xStation5 (AI.US) stock jumped 17% in premarket after company posted upbeat results for the third quarter. The enterprise artificial intelligence company recorded a narrower-than-expected loss of 6 cents per share ex-items, while analysts expected loss of 22 cent. Revenue of $66.7 million also beat market projections of $64.2 million.

Marvell (MRVL.US) shares tumbled more than 10.0% ahead of the US session after the semiconductor company announced disappointing Q1 outlook, citing inventory corrections.

Tesla (TSLA.US) stock rose over 2.0% in off hours trading after fresh figures showed that the EV maker sold 74,402 China-made vehicles last month, up 12.6% from January, and 31.65% higher from a year earlier.

Hewlett Packard Enterprise (HPE.US) shares rose almost 3.0% before the opening bell on better than expected quarterly results. The tech company reported adjusted earnings of 63 cents per share on revenue of $7.81 billion, while analysts polled by Refinitiv were expecting earnings of 54 cents per share on revenue of $7.43 billion.

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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