- US stocks open higher
- Uber (UBER.US) revises its outlook higher
- Big Lots (BIG.US) stock under pressure after analysts downgrade
US indices rebounded during today's session as investors bought the dip a bit following the S&P 500′s worst day since May. Concerns over the potential contagion over a default by the Chinese giant Evergrande eased somewhat as many investors believe that Beijing will not let the crisis spiral out of control. The company is due to pay out interest on $300 billion of liabilities on Thursday only. Meanwhile, investors await the end of the Federal Reserve’s two-day meeting, which kicked off Tuesday and are looking for more hints from Fed Chairman Jerome Powell regarding the tapering timeline.
US2000 fell sharply during yesterday's sessions, however buyers managed to halt declines around 2150 pts level and index managed to erase some losses. At the moment bulls struggle to break above the major resistance at 2210 pts which coincides with EMA 100 (purple line). Only a decisive break any of these levels will serve as initial confirmation of the start of a new trend. Source: xStation5
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Big Lots (BIG.US) stock fell more than 1.5% in premarket after Piper Sandler downgraded its stance on the retail company to ‘neutral’ from ‘overweight’. The firm said the end of fiscal stimulus will hurt Big Lots.
Big Lots (BIG.US) stock has been trading in a downward move recently. Yesterday buyers failed to break above local resistance zone around $49.35 which is marked by 38.2 Fibonacci retracement of the entire upward move launched in March 2020 and 50 SMA (red line). If current sentiment prevails, then support at $42.00 may be at risk. Source: xStation5
Uber (UBER.US) stock jumped nearly 6.0% in the premarket after the ride-hailing company revised its financial outlook for the third quarter, saying it will post its first adjusted profit earlier than expected.
Apple (AAPL.US) stock rose nearly 1% in the premarket after Wall Street Journal reported that the tech giant was working on new iPhone features that can detect depression and cognitive decline.
Chevron (CVX.US), Exxon Mobil (XOM.US) - both stocks rose 1% in premarket thanks to the rebound of oil prices. Oil companies stocks were hit during Monday’s sell-off as concerns about global economic growth sent crude prices lower.
Coinbase (COIN.US) has announced that its lending program will be canceled after the SEC has threatened to sue the exchange over its yield program.
Johnson & Johnson (JNJ.US) stock rose 0.8% in early morning after the pharmaceutical giant announced its Covid-19 booster is 94% effective in preventing serious illness when administered two months after the first dose.
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