- Weak data from US housing market
- Walmart (WMT.US) stock rose 3% on results beat and guidance upgrade
US indices launched today's session flat as better quarterly earnings from major retailers offset disappointing data from the housing market. Housing starts in the US plunged 9.5 % to an annualized rate of 1.569 million in April , from last month's near 15-year high of 1.733 million and well below analysts’ estimates 1.71 million, partially due to rising material costs especially timber and difficulties to find qualified workers. Meanwhile building permits rose only 0.3 % from a month earlier to a seasonally adjusted annual rate of 1.76 million in April, from the previous month's 1.755 million and below market expectations of 1.77 million. Elsewhere, investors hope that minutes from the Fed's April meeting which will be released tomorrow, will provide some clarity on policymakers' next moves.
US2000 failed to break above major resistance at 2248 pts which coincides with 200 SMA (red line) and index pulled back towards the lower limit of the ascending channel. Should break lower occur, then support at 2207.3 may be at risk. Source: xStation5
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Create account Try a demo Download mobile app Download mobile appWalmart (WMT.US) stock gained 3% in premarket after the company reported quarterly earnings of $1.69 per share, compared to a consensus estimate of $1.21 a share. Revenue also surprised on the upside. U.S. comparable-store sales increased 6% well above analysts’ expectations of 0.9%. Company also raised its second-quarter and full-year guidance.
Walmart (WMT.US) stock launched today’s session with a bullish price gap and is currently testing major resistance at $143.00 Should a break higher occur, then upward move may accelerate towards next resistance at $150.00. The nearest support zone is located around $140.41 and consists of the 200 SMA (red line) and downward trendline. Source: xStation5
Macy’s (M.US) stock jumped 6% in premarket after the retailer posted better than expected quarterly results. Company earned 39 cents a share while analysts' expected 41 cents per share loss. Revenue also beat market expectations.The company also raised its full-year forecast.
Home Depot (HD.US) stock rose more than 2% in premarket after the home improvement retailer posted upbeat Q1 figures. Company earned $3.86 per share, well above Wall Street projections of $3.08 a share. Revenue also came in above market forecasts, boosted by comparable-store sales which increased 31%.
Tesla (TSLA.US) shares fell 1% in premarket following news that investor Michael Burry of “The Big Short” fame had made a short bet against the automaker worth $534 billion.
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