- US indices launched today's cash trading lower
- US Dollar strengthens
- Tesla (TSLA.US) posts disappointing delivery figures
Major Wall Street indices launched today's session lower as traders returned from holiday, while the yield on the US 10-year Treasury note continued to fall to 2.81%, levels not seen since the end of May, amid rising recession concerns. The US dollar strengthened to levels not seen since 2002 as demand for safe haven assets increased. Meanwhile, news that President Biden may announce this week a rollback of some US tariffs on Chinese imports did not improve market sentiment, because economists do not expect that this will ease price pressures.
US30 again failed to break above major resistance at 31320 pts which coincides with 23.6% Fibonacci retracement of the last downward wave. As long as price sits below this level, another downward impulse towards support at 29615 pts which is marked with a lower limit of the 1:1 structure is the nearest target for market bears. Source: xStation5
Company news:
Tesla (TSLA.US) stock fell over 1.0% in premarket after second quarter deliveries fell 17.7% from the first quarter, to a weaker-than-expected 254,695 new units. China’s Covid-19 shutdowns, supply chain disruptions, chip shortages were a key factors in holding back production.
Tesla (TSLA.US) stock launched today’s session lower, below key resistance at $700.00 which coincides with 78.6% Fibonacci retracement of the upward wave launched in May 2021. If negative sentiment prevails, lower limit of the triangle formation should act as nearest support. Source: xStation5
Occidental Petroleum (OXY.US) stock rose over 1.0% in premarket after Warrens Buffett Berkshire Hathaway (BRKB.US) bought additional 9.9 million more shares, increasing its stake to 17.4%.
Shopify Inc. (SHOP.US) shares fell over 1.5% after JMP Securities started coverage with a hold-equivalent rating as it expects headwinds related to the e-commerce platform’s investment cycle.
Warner Bros Discovery (WBD.US) stock dropped over 2.0% before the opening bell after news the media and streaming firm's unit, HBO Max, has halted production of original shows in Europe.
Exxon Mobil (XOM.US) shares rose over 1.0% in premarket following the recent announcement that Q2 earnings may reach even $18 billion thanks to rising oil and natural gas prices and rising refining margins.
Daily summary: Sentiments on Wall Street stall at the end of the week🗽US Dollar gains
US100 loses 0.5% 📉Meta shares decline extends on AI CAPEX worries & Deutsche Bank remarks
AbbVie near 1-month low after earnings report 📉
CHN.cash under pressure despite positive Trump remarks 🚩
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
