US OPEN: Wall Street mixed despite GDP rebound

• US GDP grows faster than forecast
• US Weekly Jobless Claims below 800k for 2nd week
• Four Tech Giants report results Thursday
• Ford (F.US) stock rose 5% on upbeat earnings

US indices launched today's session in mixed moods after the Commerce Department announced that GDP grew at an annualized 33.1% in the third quarter, faster than analysts' expectations of 31%. Also, initial jobless claims dropped to 751K, below market estimates of 775K. However, coronavirus continues to weigh on market sentiment as number of infections continues to accelerate in the US and in Europe, which caused Germany and France to impose a new lockdowns. Investors also keep an eye on quarterly figures: earnings from Comcast beat forecasts and Amazon, Alphabet, Apple and Facebook are due to report today as well.

US500 broke below the major support at 3305 pts yesterday which is additionally strengthened by 50 SMA (green line). Today buyers retested this area but failed to break above and sellers regained control. Should current sentiment prevails, then another downward impulse towards 3200 pts could be launched. Source: xStation5

Ford (F.US) stock jumped 5% after the company reported better than expected quarterly figures. Automaker earned 65 cents in adjusted earnings per share on $ 34.71 billion of revenue, meanwhile analysts' expected earnings of 19 cents per share and revenue of $ 33.51billion. Results were helped by higher demand for SUVs and pickup trucks. Company also said it would report a full-year profit.

Ford (F.US) stock launched today’s session higher as its quarterly results crushed expectations. Should upbeat moods prevail resistance at $ 8.50 may come into play. However if sellers will manage to break below $ 7.80 support, then downward move towards $ 7.34 may accelerate. Source: xStation5

Comcast (CMCSA.US) - which is the parent of The NBCUniversal and CNBC, earned 65 cents per share in the recent quarter, 13 cents a share above estimates. Revenue also came in above market estimates. Number of broadband customers rose by 663,000 during the quarter. The company's Peacock streaming service signups had reached nearly 22 million. However performance of its theme park weighed on company's results due to the COVID-19 pandemic.

 

Exxon Mobil (XOM.US) decided to held its fourth-quarter dividend unchanged at 87 cents per share, which is the first time since 1982 that the energy giant did not raise its dividend.

 

Marvell Technology (MRVL.US) will acquire other chipmaker Inphi for $ 10 billion in cash and stock. The deal values ​​Inphi at roughly $ 157.83 per share, which came in above 40% of Inphi's Wednesday close.

 

Spotify (SPOT.US) reported a slightly wider-than-expected quarterly loss, while its revenue came in line with market expectations. The streaming music service reported premium subscriber numbers rise by a better than expected 27%. Spotify stock fell 3.9% in premarket.

 

Gilead Sciences (GILD.US) quarterly earnings of $ 2.11 per share beat analysts' forecasts by 21 cents a share. The company's revenue also beat expectations. However drugmkaker reduced its revenue guidance for this year, due to lower-than-expected demand, and uncertainty surrounding the sales of Covid-19 treatment remdesivir.

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