- US indices launched today's cash trading higher
- US inflations slows down more than expected in November
- Oracle (ORCL.US) stock surges on upbeat quarterly results
- Moderna (MRNA.US) skin cancer vaccine shows progress
Three major Wall Street indices rose sharply on Tuesday as the latest US CPI reading showed that price pressures eased more than expected in November which raises hopes that FED will ease its tightening process. The Dow Jones rose 1.7%, and the S&P 500 and Nasdaq 100 advanced 2.7% and 3.7%, respectively, amid sharp depreciation of the dollar and softening Treasury yields, which, in turn, lifted the appetite for tech and other high-growth stocks.
S&P 500 index stocks categorized by sectors and industries. Size represents market cap. Source: xStation5
US2000 rose sharply following upbeat CPI reading and is approaching the local downward trendline. Should break higher occur, next resistance to watch lies around 1960 pts and coincides with 38.2% Fibonacci retracement of the last major correction. On the other hand, in case of the shift in market sentiment, nearest major support is located at 1840 pts. Source: xStation5
Company news:
Oracle (ORCL.US) stock rose 3% in off-hours trading after the business software giant reported solid quarterly results thanks to expanding its business in the cloud segment and acquisition of electronic medical records firm Cerner.
Oracle (ORCL.US) stock launched today's session sharply higher and is approaching the upper limit of the wedge formation. Should a break higher occur, an upward move may accelerate towards resistance at $89.60 which coincides with 23.6% Fibonacci retracement of the upward wave launched in March 2020. Source: xStation5
Moderna (MRNA.US) stock rose over 12.0% in premarket after the drugmaker revealed that its experimental melanoma vaccine combined with Merck (MRK.US) cancer treatment Keytruda lowered the risk of skin cancer recurrence by 44% compared with a treatment of only Keytruda.
Boeing (BA.US) shares jumped more than 2.0% before the opening bell after United Airlines (UAL.US) ordered 100 787 Dreamliners and 100 737 Max jets, in total for $43 billion with possibility of further purchases.
Tesla (TSLA.US) shares gained over 1.5% in premarket, erasing some of yesterday's 6% losses which pushed EV maker stock price to a two-year low amid concerns that CEO Elon Musk is increasingly distracted by his acquisition of Twitter.
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