CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

US OPEN: Wall Street opens lower, Perion Network slumps 30%

14:40 10 June 2024
  • Wall Street indices open lower
  • US100 tries to bounce off the 19,000 pts area
  • KKR, CrowdStrike and GoDaddy to join S&P 500 index
  • Perion Networks slumps 30% after revising forecasts lower

Wall Street indices launched today's trading slightly lower, following a downbeat trading in Europe earlier today. However, scale of the move on Wall Street is much smaller than in Europe as declines on the Old Continent are driven by region-specific factors - political uncertainty caused by results of European Parliament elections and, especially, snap parliamentary elections called in France. S&P 500 launched today's trading 0.2% lower, Nasdaq dropped 0.3% at session launch, Dow Jones declined 0.1% and small-cap Russell 2000 plunged over 1%.

Source: xStation5

Start investing today or test a free demo

Open account Try demo Download mobile app Download mobile app

Nasdaq-100 futures (US100) are trading lower today. The index is testing support zone ranging below 19,000 pts area today, which served as a floor recently. A break below this area could pave the way for a deeper correction, with 18,835 pts zone being the first potential short-term support to watch. However, the index began to erase losses after launch of the Wall Street cash session and is now trying to bounce off the 19,000 pts mark. Should bulls regain control over the market and continue to push the index higher, the first near-term resistance zone be found in the 19,110 pts zone, just slightly below record highs.

Company News

S&P Dow Jones Indices announced the quarterly rebalancing changes to S&P 500 index. KKR & CO (KKR.US), CrowdStrike (CRWD.US) and GoDaddy (GDDY.US) will join S&P 500 index, replacing Robert Half International (RHI.US), Comerica (CMA.US) and Illumina (ILMN.US). Changes to the index will go into effect before the launch of Wall Street cash session on Monday, June 24, 2024.

Perion Network (PERI.US) launched today's trading with a big bearish price gap. Company revised its Q2 and full-year forecasts lower after it was notified by Microsoft Bing that a number of publishers will be excluded from search distribution marketplace. Perion now expects Q2 revenue to reach $106-108 million, down from previous guidance of $118-122 million, and Q2 adjusted EBITDA to reach $6.5-7.5 million, down from $10-12 million previously. Full-year revenue is now seen at $490-510 million, down from $590-610 million expected previously, and full-year adjusted EBITDA is seen at $48-52 million, down from previous goreacst of $78-82 million.

A 10-to-1 stock split on Nvidia (NVDA.US) went into effect on Friday after close of Wall Street session, meaning that today will be the first day when company trades at a post-split basis. 

Southwest Airlines (LUV.US) is trading higher today, following a report from Wall Street Journal. WSJ reported that Elliott Investment Management, a well-known acitvist investor, built an almost $2 billion stake in the company, making Elliott one of the largest stakeholders in Southwest Airlines.  

Analysts' actions

  • Advanced Micro Devices (AMD.US) downgraded to 'equal-weight' at Morgan Stanley. Price target set at $176.00
  • PG&E Corp (PCG.US) upgraded to 'overweight' at JPMorgan. Price target at $22.00
  • Adobe (ADBE.US) downgraded to 'hold' at Melius Research. Price target set at $510.00

Perion Network (PERI.US) launched new week's trading with an around-30% bearish price gap, after revising its sales and adjusted EBITDA guidance lower. Stock plunge to the lowest level since early-December 2020 and is trading around 70% year-to-date lower. Source: xStation5

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.

Back
Xtb logo

Join over 1 Million investors from around the world

We use cookies

By clicking “Accept All”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

This group contains cookies that are necessary for our websites to work. They take part in functionalities like language preferences, traffic distribution or keeping user session. They cannot be disabled.

Cookie name
Description
SERVERID
userBranchSymbol cc 11 October 2024
adobe_unique_id cc 10 October 2025
test_cookie cc 1 March 2024
SESSID cc 9 September 2022
__hssc cc 10 October 2024
__cf_bm cc 10 October 2024
intercom-id-iojaybix cc 7 July 2025
intercom-session-iojaybix cc 17 October 2024

We use tools that let us analyze the usage of our page. Such data lets us improve the user experience of our web service.

Cookie name
Description
_gid cc 9 September 2022
_gat_UA-22576382-1 cc 8 September 2022
_gat_UA-121192761-1 cc 8 September 2022
_ga_CBPL72L2EC cc 10 October 2026
_ga cc 10 October 2026
AnalyticsSyncHistory cc 8 October 2022
af_id cc 31 March 2025
afUserId cc 1 March 2026
af_id cc 1 March 2026
AF_SYNC cc 8 March 2024
__hstc cc 8 April 2025
__hssrc

This group of cookies is used to show you ads of topics that you are interested in. It also lets us monitor our marketing activities, it helps to measure the performance of our ads.

Cookie name
Description
MUID cc 4 November 2025
_omappvp cc 22 September 2035
_omappvs cc 10 October 2024
_uetsid cc 11 October 2024
_uetvid cc 4 November 2025
_fbp cc 8 January 2025
fr cc 7 December 2022
muc_ads cc 10 October 2026
lang
_ttp cc 4 November 2025
_tt_enable_cookie cc 4 November 2025
_ttp cc 4 November 2025
hubspotutk cc 8 April 2025
YSC
VISITOR_INFO1_LIVE cc 8 April 2025

Cookies from this group store your preferences you gave while using the site, so that they will already be here when you visit the page after some time.

Cookie name
Description
personalization_id cc 10 October 2026
UserMatchHistory cc 8 October 2022
bcookie cc 10 October 2025
lidc cc 11 October 2024
lang
bscookie cc 8 September 2023
li_gc cc 8 April 2025

This page uses cookies. Cookies are files stored in your browser and are used by most websites to help personalise your web experience. For more information see our Privacy Policy You can manage cookies by clicking "Settings". If you agree to our use of cookies, click "Accept all".

Change region and language
Country of residence
Language