US OPEN: Wall Street mixed as investors await inflation data

• US trade balance falls from record levels
• Stitch Fix (SFIX.US) shares soar on quarterly figures
• Clover Health Investments (CLOV.US)  is another "meme stock" to watch for

US indices launched today's session in mixed moods as investors remain cautious ahead of US CPI release later in the week and digest the possibility of an early Fed tapering. Meanwhile, several top Senate Republicans rejected Treasury Secretary Janet Yellen's G7 deal to impose a global minimum corporate tax. On the data front, the US trade balance decreased to $68.9 billion in April from a record high $75 billion gap in March and in line with analysts’ estimates. Exports increased 1.1% to $205 billion, while imports dropped 1.4% to $273.9 billion. The deficit with China decreased $7.1 billion to $32.4 billion.

US100  - buyers managed to break above  the upper limit of the triangle pattern during yesterday’s session. Retest of the aforementioned trendline occurred later on and the pair resumed upward move. If the current sentiment prevails then all-time high at 14086 may be at risk. Source: xStation5

Stitch Fix (SFIX.US) stock soared nearly 15% in premarket after the online clothing styling company posted its quarterly figures. Company lost 18 cents per share, smaller than the 27 cents a share loss that analysts were anticipating. Revenue beat market expectations. Company provided an upbeat forecast, amid 20% growth in its active client base compared to a year ago. 

Stitch Fix (SFIX.US) stock launched today’s session higher and is currently testing 38.2 Fibonacci retracement of the last downward wave which started at the end of January 2021. Should a break higher occur, then the upward move may be extended towards resistance at $75.00. On the other hand, if sellers manage to regain control then another downward impulse toward support at $60.23 may be launched. Source: xStation5

Contango Oil & Gas (MCF.US) stock rose more than 10% after the company announced that it will merge with KKR’s Independence Energy business in an all-stock deal. Initial market capitalization of both companies should reach approximately $4.8 billion. 

Apple's (AAPL.US) new feature designed to give users more privacy when browsing the web will not be available in China for regulatory reasons, reported Reuters.

Etsy (ETSY.US) stock fell nearly 2% in premarket after the company announced a private offering of $1 billion in convertible senior notes, with the online crafts marketplace planning to use the proceeds to fund stock buybacks and for general corporate purposes. 

Tesla (TSLA.US) jumped 3% in premarket trading following upbeat sales figures of its vehicles made in China.

Coupa Software (COUP.US) stock plunged more than 9% despite strong quarterly figures. The financial software company earned 7 cents per share while analysts expected 19 cents per share loss. Revenue also came in above market estimates, and the company issued an upbeat outlook.

Clover Health Investments (CLOV.US) become new favorite among investors from #WallStreetBets. Yesterday the share price rose over 30%, today the strong upward move is continued.

Clover Health Investments (CLOV.US) stock launched today's session sharply higher and broke above its all-time high at $ 17.43. Source: xStation5