- U.S. indices drop slightly at start of week
- US100 below the 16,000 point zone
- Kraft Heinz gains after approval of share buyback program
Wall Street indices started Monday's trading without a common direction. The S&P 500 and Nasdaq lost 0.2% and 0.19% at the opening, respectively, while the Dow Jones lost 0.05%. The macro calendar for today's session is empty, and the only noteworthy data will be updates on US new home sales and the Dallas FED index.
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The US100 index starts today's session unchanged from Friday's close, and time remains in the zone of the psychological 16,000-point zone, which, together with the level near 16,060 points (local peaks from the second half of July 2023), is now the most important resistance structure for the US100.
News
Kraft Heinz (KHC.US) shares are gaining nearly 2% early in the session following the authorization of a share buyback program with a total value of up to $3 billion. The program is expected to last until December 26, 2026.
Shopify (SHOP.US) shares are up nearly 4% at the start of the session. The company reported that this year's "Black Friday" holiday was historic in terms of performance in the global market, posting sales of $4.1 billion.
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Shares of Foot Locker (FL.US) are losing nearly 3% early in today's session following Citigroup's downgrade of its recommendation on the company's stock to a "sell" rating. The reason for the downgrade was lower-than-expected quarterly results.
The shares of GE HealthCare Technologies (GEHC.US) are also down nearly 3%. The Swiss investment bank issued a "sell" rating on the company's shares alone.
There has also been a lot of commentary in the market regarding sales during the "Black Friday" and "Cyber Monday" consumer holidays:
"Cyber Monday" will bring single-digit growth in online sales worldwide and in the US - Salesforce data
UK payment transactions on Black Friday down 0.63% year-on-year - Barclays
Adobe - expects consumers to spend between $12.0 billion and $12.4 billion during "Cyber Monday"
Black Friday in the United States brought a 7.5% year-on-year increase in online sales, reaching $9.8 billion. In addition, traffic at physical stores increased 2-5% year-on-year, CNBC reported, citing Adobe Analytics.
The increase in online sales was largely driven by increased demand for electronics, smartwatches, TVs and audio equipment, Bloomberg reports.
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