US OPEN: Wall Street opens higher boosted by good NFP report

• NFP report better than expected
• 10-year US Treasury yield jumped to 1.62%
• Norwegian Cruise Line (NCLH.US) stock plunged after launch of public stock offering

US indices launched today's session higher, rebounding from sharp losses in the previous session, as investors welcomed better than expected February's job report.  The US economy added 379K jobs last month, following an upwardly revised 166K rise in January and compared to analysts’ estimates of 182K. Yesterday, Fed Chair  Powell said that the economic reopening could boost inflation temporarily and that policymakers were monitoring the bond sell-off. However, the Fed chief failed to reassure investors that the central bank would keep surging bond yields and inflation expectations in check. Treasury yields moved higher following his comments and this move continues today. The yield on the 10-year Treasury note jumped to 1.626%. The yield on the 30-year Treasury bond rose to 2.34%.

US2000 – yesterday sellers managed to break below the important support zone at 2170 pts, which coincides with 200 SMA (red line) and the upward trend line. However sellers failed to uphold momentum and price returned to the aforementioned 2170 pts level. Should break higher occurs, then upward impulse towards all-time high at 2317 pts could be launched. However if sellers will manage to regain control then next support to watch lies at 2062 pts. Source: xStation5

Norwegian Cruise Line (NCLH.US) stock plunged 7% in premarket after the cruise line operator announced a public stock offering of 47.58 million shares. Company will use the funds to retire exchangeable debt held by private-equity firm L Catterton.

Norwegian Cruise Line (NCLH.US) stock fell sharply in premarket and broke below major support at $31.02 which is additionally strengthened by 50 SMA (green line). If the current sentiment prevails, downward move could be extended to the $29.74 handle or even support at $28,32. Only breaking above the aforementioned $31.02 level would invalidate the bearish scenario. In this case, the next resistance to watch lies at $43.42. Source: xStation5

Big Lots (BIG.US) stock rose more than 1% in premarket after the company posted its quarterly figures. The discount retailer earned $2.59 per share, while analysts expected earnings of $2.50 per share. Revenue came in line with market estimates. Comparable sales rose 7.9%, below Wall Street projections of 8.4% increase. Company expects that the pandemic will also have a significant impact on its results this year. 

Costco (COST.US) stock fell nearly 2% in premarket after  the warehouse retailer posted mixed quarterly results. Company earned $2.14 per share, well below market expectations of $2.45 per share. However revenue beat market estimates. Comparable sales jumped 13%, while digital sales surged 76%. Costs increased due to supply chain issues. 

Gap (GPS.US) – The parent of Gap, Old Navy and Banana Republic expects that apparel sales will increase this year, as the Covid-19 pandemic recedes and people return to offices and schools. In the previous quarter sales figures came in below market expectations, though an online sales surge helped offset a pandemic-related decline in-store traffic. Stock rose more than 3.0% in premarket.