- US stocks trade mixed
- Earnings season set to begin
- Virgin Galactic (SPCE.US) climbs after key test flight with Richard Branson
US indices launched today's session in a mixed mood. The Dow Jones fell 0.20% and the S&P 500 was flat, both retreating from records in the previous session while the Nasdaq rose 0.25%. The 10-year Treasury yield fell slightly to 1.34%, continuing its losses from last week. Traders await the earnings season to kick off with big banks due to report tomorrow. Today bank stocks are trading under slight pressure, despite expectations for strong earnings reports. S&P 500 companies’ profits are expected to be up 65% from the same quarter a year ago, according to Refinitiv. Besides earnings investors will also focus on key economic data including inflation rate, retail sales and industrial production, which should provide more details regarding the pace of economic recovery.
US30 index has been trading in an upward move recently. Buyers managed to break above the downward trendline on Friday. Retest of the aforementioned trendline is taking place today. If buyers manage to keep the price above the trendline, then the upward move may be extended to the all-time high at 35019 pts. On the other hand, if sellers will manage to push the price lower, then support at 34400 pts may be at risk. Source: xStation5
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Create account Try a demo Download mobile app Download mobile appVirgin Galactic (SPCE.US) stock surged 9% in premarket after the space company successfully completed its first full-crew spaceflight on Sunday. Branson also became the first of the billionaire space company founders to ride his own spacecraft, beating Elon Musk and Jeff Bezos.
Virgin Galactic (SPCE.US) stock launched today’s session slightly higher and is trading near upper limit of the triangle pattern. If the current sentiment prevails, then upward move may accelerate towards all-time high at $63.00. On the other hand, if sellers manage to regain control, then a downward impulse towards the lower limit of the formation may be launched. Source: xStation5
Cheesecake Factory (CAKE.US) stock rose more than 1% in premarket after Raymond James upgraded the shares to outperform from market perform. Analysts at Raymond James believe that investors are underestimating the comeback for full-service restaurants.
Nordstrom (JWN.US) stock fell nearly 0.7% after the department store announced on Sunday it has bought a minority stake in four apparel brands owned by the online U.K. fashion house Asos. The brands — Topshop, Topman, Miss Selfridge and the activewear label HIIT focus on younger consumers in their 20s. Financial details were not provided.
Clover Health (CLOV.US) stock fell nearly 1% after JPMorgan downgraded company shares to ‘underweight’ from ‘neutral’ as the meme stock’s momentum fades with the healthcare company having to improve its fundamental business.
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