- US stocks open sharply higher
- NFP report topped analysts' expectations
- Pfizer (PFE.US) stock jumped 11% as COVID-19 antiviral pill shows promising results
Major US indices touched fresh intraday record highs after the October jobs report came in better than expected, boosting optimism about the economic recovery. The US economy added 531K jobs last month, while the unemployment rate fell to a new pandemic low of 4.6% and wage pressures remained under control. On the week, all three major indexes are on track to book strong gains. The Dow is up 0.9% on the week, the S&P 500 is 1.6% higher and the Nasdaq 2.9%.
US500 rose sharply during today’s session and is currently testing the upper limit of the ascending channel. Should a break higher occur, the next target for buyers is located at 4720 pts and coincides with 161.8% Fibonacci external retracement of the last downward corrections. On the other hand, if sellers will manage to regain control, then downward impulse towards support at 4626 pts may be launched. Source: xStation5
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Pfizer (PFE.US) stock rose more than11% in premarket after the drug maker said its Covid-19 pill, used in combination with a widely-used HIV drug, reduces the risk of hospitalization or death by nearly 90% in high-risk adults. Pfizer said it will ask regulators to approve the pill as soon as possible.
Pfizer (PFE.US) stock launched today’s session with a bullish price gap and is currently testing local resistance at $47.75 which coincides with 61.8 Fibonacci retracement of the last downward wave. However, if sellers manage to halt advances, then nearest support to watch lies at $45.05. Source: xStation5
DraftKings (DKNG.US) stock fell over 4.0% in the premarket after the sports betting company reported a wider-than-expected loss and disappointing revenue figures. However the company did raise the midpoint of its fiscal 2021 revenue guidance and said it expected a strong 2022.
Uber (UBER.US) stock rose 2.0% in premarket after the ride-hailing company reported its first profitable quarter on an adjusted basis since it launched more than a decade ago thanks to upbeat solid performance of its ride-sharing and food delivery services. Company made $8 million before interest, taxes, depreciation, amortization and other items. It did post an overall net loss of $2.4 billion due to the drop in value of its stake in China ride-hailing company Didi (DIDI.US).
Peloton (PTON.US) stock plunged more than 30% in premarket after the exercise equipment maker lowered its annual revenue forecast by as much as $1 billion as the pandemic-era boom for home fitness fades rapidly.
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