- US stocks opened higher
- Lael Brainard to appear in US Senate
- Jobless claims rose unexpectedly
- US producer prices soar 9.7% in December
- Delta Air Lines (DAL.US) shares gain following upbeat
US indices launched today's session higher despite another inflation report showed a historically high rise in prices. The annual producer inflation rate rose to 9.7% from a record 9.6% in November, slightly below analysts’ estimates of 9.8% with gasoline costs dropped sharply compared to November. Elsewhere initial jobless claims in the US increased to 230k in the week ending January 8 from 207k in the previous week and above analysts’ estimates of 200k. Lael Brainard will appear before the Senate Committee for confirmation hearings (Brainard was nominated for Fed Vice Chair job). According to the released text of speech, Brainard will stress that inflation is high and bringing it back towards the goal is an important task.
US500 jumped above local resistance at 4720 pts which coincides with 61.8% Fibonacci retracement of the last downward correction. If current sentiment prevails, the upward move may be extended to the 4760 pts handle or even all-time high at 4810 pts which is marked with the upper limit of the 1:1 structure. Source: xStation5
Company news:
Delta Air Lines (DAL.US) stock rose over 2.0% in the premarket after the airline posted upbeat Q4 results. Delta earned an adjusted 22 cents per share, while analysts expected 14 cents per share. Company expects a strong spring and summer travel season.
Delta Air Lines (DAL.US) stock bounced off the local support at $40.50 which coincides with 38.2% Fibonacci retracement of the last downward correction launched in November 2021 and is heading towards upper limit of the ascending channel. Should break higher occur, upward move may accelerate towards resistance at $45.00 which is marked with 61.8% retracement. On the other hand, if sellers manage to regain control and push the price below the aforementioned support at $40.50 and lower limit of the channel, then downward move may accelerate towards support at $38.00. Source: xStation5
Bumble (BMBL.US) and Match Group (MTCH.US) shares jumped over 3.0% in premarket after Goldman Sachs upgraded both online dating sites to “buy” from “neutral”, seeing substantial upside ahead.
Boeing (BA.US) stock rose over 2.5% in premarket after Bloomberg reported that Boeing 737 MAX jet could resume service in China as soon as this month.
Taiwan Semiconductor (TSM.US) stock jumped more than 4% in premarket after the chipmaker reported record quarterly profit, beating analyst forecasts while also issuing an upbeat outlook on the back of booming semiconductor demand.
Daily Summary – Wall Street Rally Driven by Powell’s Promises
TSMC Earnings Preview: Will the Key Semiconductor Supplier Surprise the Market?
Gold hits a record, as stocks rally on earnings strength
US Open: American Indices Rally on Anticipated End of Fed Balance Sheet Reduction
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
