- Investor frenzy shows signs of cooling
- President Biden unwilling to settle on an insufficient coronavirus aid package
- UPS (UPS.US) stock rose 5% on upbeat Q4 earnings
Major US indices launched today's session sharply higher with the Dow Jones surging more than 0.8% and both the S&P 500 and the Nasdaq adding around 1%. After the meeting with 10 Republican senators, President Biden confirmed that work on his new stimulus bill will continue and he will not settle for a smaller package. Meanwhile, the Reddit boom seems to be fading away with shares of GameStop falling in the pre-market alongside silver. On the corporate front, Exxon Mobil posted better than expected quarterly earnings while results from Pfizer disappointed. Amazon and Alphabet will report their quarterly figures after the closing bell.
US100 managed to break above 50 SMA (green line) and is currently testing major resistance at 13 386 pts. Breaking above this hurdle, would pave the way towards all-time highs at 13,602 pts. Source: xStation5
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Open account Try demo Download mobile app Download mobile appUnited Parcel Service (UPS.US) stock rose more than 4% in premarket after the company posted quarterly earnings of $2.66 per share, well above market projections of $2.14 a share. The revenue also beat expectations. UPS reported 7.8% increase in revenue per delivered package in the U.S. market, as the pandemic spurred an increase in online shopping.
United Parcel Service (UPS.US) stock launched today’s session higher and is approaching major resistance at $167.00. Should a break above occur, then another upward impulse towards all-time high at $177.52 could be launched. On the other hand, if sellers manage to halt declines thereand the downward correction starts, the nearest key support to watch lies at $155.93. Source: xStation5
GameStop (GME.US), AMC Entertainment (AMC.US) stocks involved in the recent Reddit-inspired volatility fell 40% and 30% respectively in premarket trading
Pfizer (PFE.US) stock rose 1% in premarket even despite the weak quarterly earnings. The drugmaker earned 42 cents per share for the fourth quarter, 6 cents a share below analysts' expectations. Company's revenue surprised on the upside. Pfizer raised its full-year guidance amid the positive impact of the Covid-19 vaccine developed in conjunction with partner BioNTech (BNTX.US).
Harley-Davidson (HOG.US) stock plunged nearly 8% in the premarket after the company posted weak quarterly figures. Harley- Davidson lost 63 cents per share, compared with market expectations of a 14 cents per share profit. Revenue also came in below estimates, with 2020 total shipments hitting a more than 20-year low. The motorcycle maker also presented a five-year turnaround plan aimed at generating low double-digit earnings growth through 2025.
Exxon Mobil (XOM.US) earned 3 cents per share in the latest quarter, 1 cent above market expectations. However revenue came in below analysts' forecasts. Also today investors expect some board changes following discussions with investor D.E. Shaw, according to people familiar with the matter who spoke to The Wall Street Journal. D.E. Shaw expects that Exxon will cut costs and maintain its dividend.
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