- US retail sales data below forecasts
- US 10-year Treasury yield remains close to 1-year high
- AstraZeneca (AZN.US) stock moves higher despite vaccine concerns
US indices launched today's session mixed as investors await Fed's monetary policy decision on Wednesday for further clues on the economic outlook and fresh forecasts. Dow Jones and S&P 500 are swinging between gains and losses after both indexes reached new all-time highs on Monday. The yield on the benchmark US 10-year Treasury note eased to 1.60% on Tuesday, not far from a recent high oat1.64%. On the data front, retail sales dropped 3% last month, well below analysts’ expectations of a 0.5% drop. While both export and import prices jumped more than expected. Industrial production fell 2.2 % from a month earlier in February.
US100 -yesterday index bounced off the lower limit of the rising wedge pattern, however looking at the Momentum indicator it seems that upward move is fading away. In case of a break below the aforementioned lower limit of the wedge formation, downward move may accelerate towards support at 12,755 pts. On the other hand, if buyers manage to uphold momentum, then local resistance at 13,270 may be at risk. Source: xStation5
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Open account Try demo Download mobile app Download mobile appAstraZeneca (AZN.US) - Thailand reversed decision to suspend the company's Covid-19 vaccine while Canada approved AstraZeneca product for those above 65 years old. Recently several EU countries temporarily suspended use of the vaccine, amid reports of side effects. However WHO and AstraZeneca confirmed the vaccine is safe.
AstraZeneca (AZN.US) stock launched today’s session sharply higher and is currently testing resistance at $ 50.00 which coincides with 50 SMA (green line). If the current sentiment prevails, upward move could be extended to the $52.05 handle which is additionally strengthened by the upper limit of the descending channel. However if sellers will manage to halt advances, then another downward impulse towards support at $48.26 may be launched. Source: xStation5
Moderna (MRNA.US) stock rose nearly 2% in pre-market after the drugmaker started a study of its Covid-19 vaccine involving children aged 6 months to 11 years. Moderna's and Johnson & Johnson's (JNJ.US) vaccines are currently authorized for people over 18 years of age, while the vaccine from Pfizer (PFE.US) and BioNTech (BNTX.US) is allowed for people 16 and older.
Starbucks (SBUX.US) shares gained 1.6% in the premarket after global financial services firm BTIG upgraded its stock to "buy" from "neutral." BTIG noticed that recovery by Starbucks is gaining steam and that stimulus checks could provide an additional boost.
Alibaba (BABA.US) stock fell 1% in premarket after Chinese authorities requested the company to dispose of its media assets, according to The Wall Street Journal citing people familiar with the matter. The government is said to be concerned about Alibaba's influence on public opinion.
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