- US stocks opened higher
- Speeches from Fed members
- Nike (NKE.US) stock surges on upbeat quarterly results
US indices launched today's session higher as investors digested yesterday's hawkish comments from Fed Chair Powell. The Dow Jones rose 0.6% at the beginning of the session, while the S&P 500 and the Nasdaq jumped 0.4% and 0.3%, respectively. Some market participants raised their expectations regarding interest rate hikes. Goldman Sachs now expects 50 basis point hikes at the May and June meetings. Investors continue to watch the situation in Ukraine as ongoing peace talks between Moscow and Kyiv fail to make progress and the Russian land offensive stalled. Traders should watch newsflow carefully as potential entry of Belarus into conflict could weigh on market sentiment. Also Fed members' speeches may cause some volatility.
US30 managed to erase yesterday's losses and returned above 34375 pts level. Currently the index is approaching local resistance at 34725 pts, which is marked with an upper limit of the 1:1 structure. Source: xStation5
Company news:
Nike (NKE.US) stock rose over 6.0% in premarket after the footwear maker posted quarterly earnings of 87 cents per share, beating analysts estimates of 71 cents per share. Revenue also topped market projections, thanks to rising digital sales and the company's ability to successfully navigate supply chain issues.
Nike (NKE.US) stock launched today's session with a bullish price gap above major resistance at $133.50 which coincides with 38.2%Fibonacci retracement of the upward wave launched in March 2020 and upper limit of the 1:1 structure. If current sentiment prevails, the next target for buyers is located at $151.00. Source: xStation5
Alibaba (BABA.US) shares jumped 8.0% before the opening bell, after the Chinese e-commerce company increased its share buyback program to $25 billion. The move follows a slump in the stock’s price on regulatory and growth concerns.
Switch (SWCH.US) stock jumped over 10.0% in premarket after Bloomberg reported that the data center operator was exploring options including a possible sale of the company.
Tencent Music (TME.US) stock jumped more than 4.0% in premarket trading after the entertainment services company reported upbeat quarterly figures and said it would pursue a secondary listing on the Hong Kong Stock Exchange.
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