- US retail sales below expectations
- Rebound in US stocks continues
- Walt Disney (DIS.US) shares fell after mixed quarterly figures
US indices launched today's session higher even despite weak retail sales data which unexpectedly stalled in April as the boost from stimulus checks faded. Meanwhile total industrial production in the United States increased 0.7 % in April, easing from an upwardly revised 2.4 % increase in March and missing market consensus of a 1.0% advance. The Dow Jones Industrial Average climbed 0.7%, S&P 500 rose 0.8%. The tech-heavy Nasdaq Composite, the relative underperformer for the week, jumped nearly 1%. On the week however, the Dow is down 2.2%, the S&P 2.8% and the Nasdaq 4.6%.
US500 managed to break above the major resistance at 4110.7 pts and 200 SMA (red line). The next target for bulls is located at 4211.8 pts, however, earlier buyers will have to deal with the previously broken lower limit of the ascending channel and 50 SMA (green line). If the buyers fail to break above, then another downward impulse may be launched towards the aforementioned 4110.7 pts level. Source: xStation5
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Open account Try demo Download mobile app Download mobile appWalt Disney (DIS.US) stock fell more than 4.0% in premarket trading after the company posted mixed quarterly figures. Disney earned 79 cents per share well above analysts’ expectations of 31 cents, but revenue was short of analysts’ forecasts. Also growth figures for the Disney+ streaming service came in below market estimates.
Walt Disney (DIS.US) – yesterday stock was trading under pressure despite overall positive sentiment but buyers managed to halt declines at the lower limit of the descending channel. Today, one can see that the upward move is continuing after the US open. Stock started trading with a massive bearish price gap and if the current sentiment prevails then support at $166.01 may be at risk. On the other hand, the nearest major resistance lies at $181.32. Source:xStation5
Airbnb (ABNB.US) stock fell more than 3% after the company posted a first-quarter loss of $1.95 while markets expect $1.10. On the other hand, revenue figures surprised on the upside. Company also reported a 52% increase in gross bookings as more people received Covid-19 vaccinations and travel restrictions eased.
Coinbase (COIN.US) stock plunged more than 6% in the premarket after the company posted its first quarterly earnings since the IPO. The cryptocurrency exchange reported total revenue of $1.801 billion and earnings of $3.05 per share. Analysts expected earnings of $3.07 a share on revenue of $1.81 billion. Company benefited in the Q1 from a significant rally in bitcoin and other cryptocurrencies.
Fisker (FSR.US) rose more than 14.0% in premarket trading after the electric car maker entered into a deal with contract manufacturer Foxconn to jointly develop electric vehicles. Plans include opening a new manufacturing facility in the US in 2023, although the location has yet to be determined.
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