- US stock opened lower
- Moderna CEO expects existing vaccines to be less effective against Omicron
- Jerome Powell to testify in Congress at 3:00 pm GMT
- Dollar Tree (DLTR.US) stock dropped 2% after analysts downgrade
US indices launched today's session lower as investors reassessed risks associated with the new omicron Covid variant after Moderna's CEO said that current vaccines may be ineffective against the new strain. Elsewhere, Treasury Secretary Janet Yellen and Federal Reserve Chair Jerome Powell will testify before Congress today. According to Powell's prepared remarks, the new COVID-19 strain may have an impact on growth and employment and could affect the Fed's hawkish monetary policy stance.
US100 reached a new all-time high at 16775 pts last week, however buyers failed to uphold momentum and index returned below the upper limit of the ascending channel. If sellers manage to uphold control, then support at 15,750 pts, which is marked with a lower limit of the 1:1 structure, may be at risk. Source: xStation5
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appCompany news:
Dollar Tree (DLTR.US) shares dropped over 2% in premarket after Goldman Sachs downgraded the company to neutral from a buy Dollar saying the stock is getting too expensive. Banks believes that Dollar Tree’s comeback story is now priced in.
Dollar Tree (DLTR.US) stock launched today's session lower and is approaching support at $133.50 which is marked with lower limit of the 1:1 structure and 23.6% Fibonacci retracement of the last upward wave. Should break lower occur, downward move may accelerate towards next support at $124.20 which coincides with 50 SMA (green line) and 38.2% Fibonacci retracement. On the other hand, if buyers manage to regain control, then another upward move towards all-time high at $149.00 may be launched. Source: xStation5
Vaccine makers' stocks are trading under selling pressure after Moderna CEO said that existing vaccines may be less effective against the Omicron variant. On the other hand, Oxford University said there is no evidence which supports this opinion as Scientists are still studying the new variant. Regeneron Pharmaceuticals Inc said its COVID-19 antibody treatment could be less effective against the new variant. Moderna (MRNA.US) shares dropped over 2%, while BioNTech (BNTX.US) stock fell 5% in premarket.
Meta Platforms (FB.US) stock fell 0.7% in premarket after UK antitrust regulator ordered Facebook’s owner to sell animated images platform Giphy for competitive reasons.
Twitter (TWTR.US) stock rose 0.85% in premarket, continuing the social media giant’s volatile trading after founder and CEO Jack Dorsey announced yesterday that he would step down from the company.
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.
