- US indices launched today's cash trading higher
- US500 bounced off local support
- Tesla (TSLA.US) job ads rebounded after summer slowdown
Major Wall Street indices launched today's session sharply higher as upbeat earnings from Bank of America and the British government's U-turn on its fiscal plan supported risk-on sentiment. The Dow Jones gained 1.70%, and the S&P 500 and Nasdaq added 2.1% and 2.7%, respectively, as markets are getting ready for a busy week of earnings which will provide insight into how businesses are dealing with the challenging macroeconomic environment. Investors are most focused on large technology companies, including Tesla, Netflix, and IBM.
US500 bounced back from its lowest level in more than two years and is currently trading above major support at 3600 pts. If buyers manage to keep index above this level, another upward move towards local resistance at 3800 pts may be launched. This level coincides with 38.2% Fibonacci retracement of the upward wave launched in March 2020. However, in the event of a change in market sentiment to bearish, a downward impulse towards support at 3500 pts, which is marked with a lower limit of the 1:1 structure, may be launched. Source: xStation5
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Tesla (TSLA.US) stock added more than 2.0% in premarket after job openings on the company's website suggest the EV producer is hiring employees at a quick pace, in nearly every category of job.
Tesla (TSLA.US) stock fell sharply on Friday, however sellers failed to break below major support at $207.20, which is marked with previous price reactions. Moods improved on Monday and as long as the price sits above aforementioned support level, another upward wave towards local resistance at $253.00 may be launched. Source: xStation5
Continental Resources (CLR.US) stock jumped nearly 9.0% in premarket following news that Chairman and founder Harold Hamm and his family are planning to buy the shares of the energy producer that they don’t already own for $74.28 per share, in order to take the company private.
Bank of New York Mellon (BK.US) stock surged more than 4.0% after the lender posted solid quarterly earnings, with net interest revenue jumped 44% from a year ago during the quarter.
Goldman Sachs (GS.US) plans to combine its various businesses into three divisions in a significant reorganization, according to the Wall Street Journal. One unit will house investment banking and trading, with asset and wealth management in another and transaction banking in a third division.
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