- US indices launched today's cash trading higher
- US jobless claims rose unexpectedly
- GameStop (GME.US) board approved stock split
Major Wall Street indices launched today's session higher as inflation and recession worries seem to ease for a moment, ahead of tomorrow’s NFP report. The Dow Jones rose 0.8%, while S&P 500 and Nasdaq Composite were up 0.7% and 0.5% respectively at the open despite another sign of labour market weakness. Initial jobless claims increased more-than-expected to the highest reading since January but remained below 250K.
US30 again approaches major resistance at 31320 pts, which coincides with 23.6% Fibonacci retracement of the last downward wave. Should break higher occur, upward move may accelerate towards next resistance at 32410 pts. Nevertheless as long as price sits below aforementioned level, another downward impulse towards support at 29615 pts may be launched. Source: xStation5
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GameStop (GME.US) stock jumped 6% in premarket after the video game retailer's approved a four-for-one stock split that will make it more affordable for investors to own shares of the meme stock. Trading on a split-adjusted basis will begin on July 22.
GameStop (GME.US) stock launched today's session with a bullish price gap, above major resistance at $119.75. If upbeat sentiment prevails, next resistance at $145.00 may be at risk. Source: xStation5
Seagen (SGEN.US) stock rose over 4.0% in premarket trading after the WSJ reported that Merck (MRK.US) plans to acquire the cancer specialist for more than $ 200 per share, or about $ 40 billion.
Virgin Galactic (SPCE.US) shares moved 3.5% higher before opening bell after news that the space tourism company will work together with Boeing (BA.US) to build carrier aircraft to support its coming spacecraft fleet.
Kohl's (KSS.US) stock dropped nearly 2.0% in premarket after Bank of America downgraded the retailer to ‘underperform’ from ‘hold’, citing the termination of takeover talks with Franchise Group.
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