- US indices launched today's cash trading in mixed moods
- US100 approaches major support
- Bed Bath & Beyond (BBBY.US) faces inventory problems
Three major Wall Street indices launched today's session mixed, with Dow Jones up 0.25% as Black Friday shopping kicks off, while S&P 500 and Nasdaq 100 dropped 0.1% and 0.50% weighed down by Activision Blizzard, which stock fell following news that the FTC could block Microsoft from taking over the gaming company. Also concerns regarding lockdowns in China weighed on market sentiment. The second biggest economy is ramping up restrictions as the number of new cases rose sharply in recent days. Nevertheless all three major US indexes are now on track to end the Thanksgiving week, in which trading volumes were substantially thin, up more than 1%.
US100 pulled back slightly on Friday and approaches key support at 11700 pts, which is marked with previous price reactions. Should break lower occur, downward impulse may deepen towards recent lows at 10460 pt. On the other hand, if buyers manage to regain control, another upward impulse towards long-term downward trendline may be launched. Source: xStation5
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Bed Bath & Beyond (BBBY.US) stock rose over 2.0% in premarket after WSJ reported that the housewares retailer is facing problems with stock inventories ahead of the key holiday period. According to data from analytics company DataWeave over 40% of company's were out of stock in October.
Bath & Beyond (BBBY.US) stock is trading 93.0% below its $54.00 highs and currently hovers near 2020 lows. Source: xStation5
Tesla (TSLA.US) shares jumped over 2% in premarket after EV producer announced its Full Self Driving Beta software is now available in North America. The announcement comes as Tesla still awaits regulatory approval for cars to be driven without human control and overshadowed news that it has to recall more than 80,000 China-made and imported cars for software and seat belt issues.
Apple (AAPL.US) stock dropped nearly 1.0% in premarket as Chinese restrictions continue to weigh on the main iPhone-making plant, following on from violent protests earlier this week.
Amazon (AMZN.US) employees worldwide, including those in the US, Germany, and France, were expected to go on strike today.
Coupa Software (COUP.US) shares rose over 3.5% in premarket after Bloomberg reported that private equity firm Vista Equity Partners was considering a buyout of business software provider.
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