- US indices launched today's cash trading higher
- Goldman cuts Apple (AAPL.US) price target
- DoorDash (DASH.US) faces competition from Amazon (AMZN.US)
Major Wall Street indices launched today's session slightly higher on Wednesday, after an impressive rebound on Tuesday. Increased volatility is expected to persist today due to the publication of FED minutes. Also ISM non-manufacturing PMI and the JOLTS report will be in the spotlight.
US2000 managed to break above 1700 pts level which now acts as support. As long as price sits above, another upward impulse towards key resistance at 1837 pts could be launched. This level is marked with an upper limit of the 1:1 structure and 23.6% Fibonacci retracement of the last downward wave. Source: xStation5
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DoorDash (DASH.US) stock dropped 8.0% and Uber (UBER.US) shares lost over 3.0% in premarket after Amazon (AMZN.US) acquired a 2% stake in the company’s U.S. food delivery unit Grubhub of Just Eat Takeaway, offering the prospect of severe competition.
DoorDash (DASH.US) stock has been moving sideways since mid-May. Yesterday price rose sharply, however buyers failed to break above the upper limit of the consolidation at $76.90. Today's news put additional selling pressure and local lows at $56.70 look like the nearest target for sellers. Source: xStation5
Apple (AAPL.US) stock slid 0.50% in premarket after Goldman Sachs lowered price target from $157 a share, to $130, while holding his "neutral" rating. Goldman points out that hardware and device sales could be at risk if the global economy were to tip into recession.
Coinbase Global (COIN.US) stock dipped more than 3.0% in premarket after Atlantic Equities downgraded crypto exchange to “neutral” from “overweight” citing concerns of a prolonged cryptocurrency bear market.
Altria (MO.US) stock rose over 2.5% before the opening bell after the FDA temporarily suspended its ban on Juul e-cigarette products. Altria owns 35% shares of Juul, which will be allowed to sell its products to customers while it appeals the FDA’s decision.
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