- US indexes on track to book weekly losses
- US 10-year bond yield continues to move lower
- Foot Locker (FL.US) stock surges on strong quarterly earnings
US indices launched today's session higher mainly thanks to the rebound of tech stocks. Still both the S&P 500 and the Dow are on track to post their worst performances since June, while the Nasdaq is set to see its worst week since May driven by fears of the Federal Reserve pulling back its stimulus and concerns over the rapid spread of the coronavirus Delta strain. The yield on the benchmark 10-year Treasury note dropped to 1.25%, from 1.28% at the end of last week. Next week investors will focus on the Jackson Hole Symposium during which Fed officials are expected to provide more hints regarding the tapering timeline.
US500 rose sharply at the beginning of today’s session and is testing local resistance at 4417 pts which coincides with 50 SMA (green line) and 23.6% Fibonacci retracement off the last upward wave. Should a break higher occur, then another upward impulse towards 4475.5 pts could be launched. On the other hand, if sellers manage to regain control then support at 4382.5 may be at risk. Source: xStation5
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Create account Try a demo Download mobile app Download mobile appFoot Locker (FL.US) stock jumped more than 6.0% in the premarket after the athletic footwear and apparel maker reported better than expected second-quarter results. Company posted earnings of $2.21 per share, well above market expectations of $1.01, and comparable stores sales rose 6.9%.
Foot Locker (FL.US) stock witnessed a downward correction recently, however buyers managed to halt declines around support at $52.75 which coincides with lower limit of the triangle formation. Stock launched today’s session with a massive bullish price gap and is testing major resistance at $60.00. If current sentiment prevails, an upward move may accelerate towards local highs at $66.50. Source: xStation5
Deere (DE.US) stock rose more than 1% in premarket after the heavy equipment producer posted strong quarterly results. Company earned $5.32 per share well above analysts' expectations of $4.58. Revenue also topped market estimates. Company lifted its full-year earnings guidance due to higher demand for farm equipment.
Johnson & Johnson (JNJ.US) stock fell 0.3% after the drugs maker announced that Alex Gorsky will step down as CEO after nine years, handing over the role to company veteran Joaquin Duato.
Applied Materials (AMAT.US) stock fell more than 1% in premarket despite the fact that the maker of semiconductor manufacturing equipment reported quarterly profit of $1.90 per share topping market estimates of 13 cents with an adjusted. Revenue also beat analyst expectations. Company also gave a better-than-expected outlook.
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