- The 10-year Treasury yield retreated to 1.52%
- Tech stock rebound
- Stitch Fix (SFIX.US) stock tumbled 24% on weak quarterly figures
US indices launched today's session sharply higher after bond yields declined to 1.52%. Investors took this opportunity to buy recently beaten tech stocks which caused the Nasdaq index to increase by over 2.5%. Meanwhile the House is expected to pass the $1.9 trillion stimulus bill today or tomorrow.
US100 – index bounced off the local support at 12,500 pts which coincides with 50 SMA ( green line) and managed to break above the downward trendline. Currently index is approaching local resistance around 12,755 pts which is additionally strengthened by 200 SMA ( red line). Breaking above the aforementioned resistance may pave the way for a bigger upward move. In such a scenario, the next resistance to watch lies at 13,046 pts. Source: xStation5
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Create account Try a demo Download mobile app Download mobile appStitch Fix (SFIX.US) stock plunged 24% premarket after the company posted disappointing quarterly figures. Company lost 20 cents per share for its latest quarter, 2 cents a share less than analysts had anticipated. Revenue came in below expectations. Company provided weak guidance due lengthened cycle times. Stitch Fix does not recognize revenue until a customer finalizes a “Fix” by returning unwanted items and paying for items kept.
Stitch Fix (SFIX.US) stock launched todays session lower and is currently testing major support at $52.90. Should a break lower occurs, downward move may accelerate. Next support is located at $37.88. On the other hand, if buyers will manage to halt declines here, then upward impulse towards local resistance at $73.13 could be launched. Source: xStation5
Peloton (PTON.US) stock jumped nearly 5% after company announced plans to sell its fitness bicycle and interactive membership app in Australia starting in the second half of the year.
Thor Industries (THO.US) – posted quarterly earnings of $2.38 per share, well above analysts' expectations of $1.55 a share. Revenue also beat market estimates. The recreational vehicle maker warned supply chain issues could have a negative short-term impact, but the company is cautiously optimistic that those issues will lessen in the second half of the year.
Li Auto (LI.US), Nio (NIO.US) – The China-based electric vehicle makers are all planning to list in Hong Kong as soon as this year, according to people with direct knowledge of the matter who spoke to Reuters.
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