- Flat opening of the US session
- ADP report above expectations
- Virgin Galactic (SPCE.US) stock downgraded by BofA
US indices launched today's session mixed, as investors await tomorrow’s NFP report for more hints regarding the labour market recovery, while ADP data showed private businesses hired 692K workers in June, above analysts’ expectations of 600K. Also ongoing concerns regarding the spread of the contagious Delta variant weigh on sentiment.
US30 broke below major support at 34181 which now acts as resistance. Retest of the aforementioned level takes place at the moment and if buyers will manage to break higher than upward move may resume. The next target for bulls is located at 34400 pts. However as long as price sits below it, further downward move is the base case scenario. Nearest support lies at 33961 pts. Source: xStation5
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Create account Try a demo Download mobile app Download mobile appVirgin Galactic (SPCE.US) shares fell 3% in premarket after the space travel company stock was downgraded to “underperform” from “buy” by Bank of America, which believes that much of the good news surrounding the company’s eventual launch of tourists into space is already in the price.
Virgin Galactic (SPCE.US) stock launched today’s session lower and is heading towards the lower limit of the bullish price gap at $41.25 which is strengthened by 50 SMA (red line) and upward trendline. Should break lower occur, then downward move may accelerate towards support at $28.06. On the other hand, if buyers manage to halt declines, then another upward impulse towards resistance at $57.55 may be launched. Source: xStation5
Under Armour (UA.US) shares gained 1.5% in premarket as latest data from the jobs analytics database run by GlobalData showed that the company is hiring in large numbers of employees, which may be a sign that it expects higher demand in the future.
General Mills (GIS.US) stock fell 1.5% in premarket despite the fact that the food producer posted upbeat quarterly figures. Company earned 91 cents per share while analysts’ expected earnings of 85 cents per share cents a share. Revenue also beat market estimates. However organic net sales dropped by 6% compared to last year.
Intel (INTC.US) announced that a new version of its Xeon server chip line will go into production in 2022, rather than by the end of this year as promised, as the chip maker plans to work on improving its performance.
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