US OPEN: Wall Street mixed as investors digest upbeat claims data and FED outlook

• US stock opened lower
• Jobless claims fell sharply
• Berkshire Hathaway (BRKB.US) acquires major stake in HP Inc (HPQ.US)

Mixed moods prevail today on Wall Street, where Dow Jones lost 0.40%, while the S&P 500 and the Nasdaq 100 rose 0.10% and 0.30% respectively as investors digested the hawkish tone in the latest FOMC. Inflation continues to move higher therefore many FED members considered 50-basis-point rate high while tightening looks to be rapid especially taking into consideration upbeat data from the labour market. Weekly jobless claims dropped to 166k - level not seen since 1968. Also today  St. Louis Fed president Bullard said that the central bank's funds rate of around 3.5% is needed to fight inflation and it is not clear how the US will meet labor demand. Investors also continue to monitor the Ukraine-Russia war, as Ukraine asks NATO for more weapons as it prepares for another Russian offensive.

US2000 pulled back sharply this week after another failed attempt of breaking above major resistance at 2108 pts. Yesterday's minutes and tense geopolitical situation put additional pressure on the index which broke below local support at 2024 pts. This level coincides with 23.6% Fibonacci retracement of the last major downward correction. If current sentiment prevails downward move may be extended to the 1900 pts level where January and February lows are located. Source: xStation5

Company news:

HP (HPQ.US) stock surged over 15% in premarket after Warren Buffett’s Berkshire Hathaway (BRKB.US) became the largest shareholder in the PC and printer maker. 

HP (HPQ.US) stock prices have been moving sideways since the end of 2021, however today's news provides fuel for the bulls. Stock launched today's session with a massive bullish price gap and is currently testing the upper limit of the consolidation at $40.30. On the other hand, if sellers manage to regain control, then another downward move towards support at $33.75 may be launched. Source: xStation5 

Levi Strauss (LEVI.US) stock jumped 3% in premarket after the denim retailer reported better than expected first-quarter earnings amid  strong demand for its jeans, tops and jackets while successfully raising prices and cutting down promotions.

Ford (F.US) stock fell over 1.0% before the opening bell after Barclays downgraded a major US automaker to ‘equal weight’ from ‘overweight’, saying the company will struggle as chip shortages continue.

Wayfair (W.US) shares plunged 4.1% in the premarket after Wells Fargo downgraded the furniture retailer  to “underweight” from “equal weight” as it believes that company's performance will be hurt by waning demand, overly optimistic consensus estimates and other factors.