- US Stocks at new record highs
- Non-farm Payrolls well below expectations
- Micron Technology (MU.US) posted better than expected quarterly figures
US indices launched today's session higher even despite weak payrolls report which showed US employers cut 140K jobs in December while analysts expected 71k rise. The unemployment rate was 6.7%, compared to the 6.8% estimate. It is the first drop since April and might be a sign that the labour market recovery may take much more time than initially expected. Still major US indexes continue to trade at new record highs as investors expect swift economic recovery and more fiscal stimulus under the new Biden presidency and a Democrat-controlled Congress.
US30 – yesterday index managed to break above the upper limit of the ascending channel and as long as price sits above it the way towards the new all-time high remains open. The 30685 pts handle is a key support for now. If sellers manage to break below, a bigger downward correction may start. Source: xStation5
Tesla's (TSLA.US) market value surpassed Facebook (FB.US) and its CEO Elon Musk became the world’s richest person. The company’s shares rose nearly 4.0% in premarket.
Micron Technology (MU.US) stock rose 3.5% in the premarket after the company posted quarterly earnings of 78 cents per share, 7 cents a share above estimates. Revenue also beat market expectations. The chipmaker provided optimistic current-quarter guidance, saying that the market for dynamic random access memory chips (DRAM) appears to have bottomed and is on the rebound.
Micron Technology (MU.US) launched today’s session with a bullish price gap and painted a fresh all-time high. Price is currently testing the upper limit of the ascending channel. Source: xStation5
Boeing (BA.US) - reached a $ 2.5 billion deal with the Department of Justice in which it admits that employees misled regulators on safety issues that preceded two fatal crashes involving a 737 Max jet.
Apple (AAPL.US) stock rose 1.2% in the premarket even despite the fact that Hyundai Motor withdrew its earlier confirmation of electric car talks with Apple, saying it was in talks with “potential partners” while removing references to Apple.
Pfizer (PFE.US)/BioNTech (BNTX.US) –The Covid-19 vaccine developed by both companies appears to be effective against a new strain of the virus, according to a study conducted by the drugmaker. That study has not yet been peer-reviewed.
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