US OPEN: Wall Street loses momentum after 3 days of gains

• Indices on Wall Street start today's trading with declines

• Lowest number of jobless claims since 1969

• Amazon (AMZN.US) with €1.28 billion fine by Italian antitrust authority

Today's session on Wall Street starts with declines after 3 consecutive up sessions. The jobless claims reading fell to 184,000, the lowest level since 1969. For markets around the world, the topic of the complexity of the Omicron variant and the FOMC decision on interest rates next week are still the most important factors.

The US100 index starts today's session with small gains and is struggling to break through the 16,500 level, which has been a critical resistance in the past. The nearest support for the technology index is near the 16,200 level, which coincides with the 23.6 retracement. Source: xStation 5

Market News:

The government reported today that jobless claims fell to 184,000 last week, well below consensus expectations and the lowest level since 1969. Tomorrow, markets will learn of the CPI reading, which is expected to indicate a 6.7% year-over-year increase, which would be the highest indication since 1982.

Amazon (AMZN.US) has been fined 1.28 billion EUR for abusing its dominant market position. The Italian antitrust authority said the company had used its dominant market position to favour its logistics system, which harmed competition. The e-commerce giant was ordered to change its policy. 

Amazon (AMZN.US) is currently moving in an uptrend and the price is struggling to break through the resistance at the level of $3560 per share. Today's information about the fine imposed by the Italian authorities does not seem to have a negative impact on the share price at the beginning of trading. The key support is currently the local low, which is reinforced by the 200 EMA. Resistance near 3765 (double top) will be a key indication of Amazon's general trading sentiment. Source: xStation 5

GameStop's shares (GME.US) are down 4% ahead of the start of today's session as the company deepens its losses from last year. Also, at a disadvantage is a subpoena from the SEC regarding trading by the Reddit community to wreck short-sellers.

The FDA has approved the first monoclonal antibody cocktail for people with weakened immune systems to inject before exposure to coronavirus. The US Food and Drug Administration on Wednesday granted emergency approval to AstraZeneca's therapy for prevention.