• President Trump cancelled stimulus negotiations
• House of Representatives damns Big Tech monopolies
• Levi Strauss (LEVI.US) stock surges on upbeat quarterly figures
• Levi Strauss (LEVI.US) stock surges on upbeat quarterly figures
US indices launched today's session sharply higher, reversing from a big plunge in the previous session as investors digested news that President Trump instructed his team to stop negotiations with the Democrats for a new fiscal package until after the November 3rd presidential election. Also President Trump said on Twitter the House & Senate should immediately approve $25 billion for airline support and $135 billion for Paycheck Protection Program. Shares of Delta Air Lines Inc, American Airlines Group Inc , United Airlines Holdings Inc and JetBlue Airways Corp jumped between 3.4% and 6.4% in premarket trading. Meanwhile, investors will also keep an eye on the minutes from the last FOMC meeting for further hints on the monetary policy. The US Vice Presidential debate will also happen on Wednesday night.
US30 - yesterday index bounced off the ascending trendline and upward move was resumed. During today’s session price managed to break above 50 SMA (green line). Should upbeat moods prevail, resistance at 28090 pts may come into play. However in case sellers manage to regain control, then another downward impulse towards 27408 pts could be launched. Source: xStation5Levi Strauss (LEVI.US) reported quarterly earnings of 8 cents per share, compared with analysts’ expectations of a 22 cents per share loss. Revenue came in above market forecasts. Company reported 52% increase of online sales.
Levi Strauss (LEVI.US) – stock price managed to break above the 200 SMA (red line) on Monday and launched today’s session with a massive bullish price gap. Should current sentiment prevail, then next resistance at $17.00 may be at risk. Source: xStation5Alphabet (GOOGL.US), Facebook (FB.US). Amazon.com (AMZN.US) – were all accused of abusing their market power in a new report from a House Judiciary subcommittee. The report calls for significant reform but did not specifically say any of the tech giants should be broken up.
Boeing Co (BA.US) stock rose 2.4% after the Federal Aviation Administration issued a draft report on revised training procedures for the planemaker's 737 MAX, a key milestone to the plane's eventual ungrounding.
Tesla (TSLA.US) informed workers in an email that an employee “maliciously sabotaged” part of its Fremont, California factory last month, according to a Bloomberg report. The worker was fired after an internal investigation.
Netflix (NFLX.US) – Pivotal Research raised its price target on Netflix to a Street-high $650 per share, based on accelerating cord-cutting trends and the view that Netflix is likely to remain the dominant global player in the streaming video-on-demand market.
AT&T (T.US) is proceeding with an auction of its DirecTV unit despite lower-than-expected bids, according to a source who spoke to the New York Post. Initial offers value the unit at well below $20 billion, compared to the $49 billion paid by AT&T five years ago.
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