- Dow Jones at new records highs
- Biden planning first major tax hike in almost 30 years
- AMC (AMC.US) to reopen LA cinemas
US indices launched today's session mixed. Dow Jones continues its upward move and hit new record highs while the S&P 500 and the Nasdaq are trading around the flatline as Treasury yields remain elevated, slightly below 1.642%. President Biden is planning the first major federal tax hike since 1993, to help pay for the long-term economic program designed as a follow-up to his pandemic-relief bill, Bloomberg reported. This week investors will focus on the Fed's monetary policy decision for further clues on the central bank's next steps.
US30 reached another all-time high at 32, 942 pts, however index is currently testing lower limit of the ascending channel. Should a break lower occur, downward impulse towards support at 32,142 pts could be launched. However, if buyers manage to uphold momentum, then upward move toward the upper limit of the formation may accelerate. Source: xStation5
AMC Entertainment (AMC.US) stock rose more than 8% in premarket after the company announced that it will be reopening movie theaters in Los Angeles, starting with two locations today. It plans to open the remaining 23 theaters in Los Angeles on Friday, and hopes to have all 56 California locations open by then depending on local approvals.
AMC (AMC.US) launched today’s session with a bullish price gap. Should the upbeat moods prevail, resistance at $13.27 may come into play. This level coincides with the upper limit of the ascending channel. However in case sellers will manage to regain control, then near support lies at $11.00 level. Source:xStation5
Carnival (CCL.US) CEO Arnold Donald told the Financial Times that in his opinion, the cruise industry has at least two more tough years. He believes that cruise line operator’s full fleet might be sailing by the end of the year but that it will take at least until 2023 for revenue to return to pre-pandemic levels.
Ford Motor (F.US) - The National Highway Traffic Safety Administration had called the automaker to recall 2.9 million vehicles to check for potentially faulty driver-side Takata airbags. Ford plans to begin notifying owners on April 1.
AstraZeneca (AZN.US) – Ireland decided to suspend the use of the company's Covid-19 vaccine, after reports regarding blood clots in some patients. Officials said they took the action “out of an abundance of caution,” although AstraZeneca said its review of more than 17 million people showed no increased risk of blood clots.
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