- Weekly jobless claims below expectations
- US breaks record daily Covid-19 deaths
- CrowdStrike (CRWD.US) stock surged on upbeat quarterly results
US stocks launched session slightly higher as investors digested upbeat claims data, rising Covid-19 death toll and recent developments on possible stimulus bill. House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer issued a joint statement calling on Republicans to work with them on another round of coronavirus relief funding, using a bipartisan proposal from Senate moderates as a starting point. On the coronavirus front, US reported 200,070 new infections and record number of 3157 COVID-19-related deaths on Wednesday, the most since the pandemic started while hospitalizations surpassed 100,000.
The Labor Department said that initial jobless claims fell to 712,000, from an upwardly revised 787,000 a week earlier. Analysts had expected a drop to 775,000. Separately, the Challenger Job Cuts survey suggested that the pace of layoffs across the U.S. fell to its slowest since the beginning of the health crisis this year, showing just under 65,000 job losses in November, compared to over 80,000 in October. Meanwhile, investors will keep an eye on the claims report and ISM non-manufacturing PMI figures which will be released at 3:00 pm GMT.
The Labor Department said that initial jobless claims fell to 712,000, from an upwardly revised 787,000 a week earlier. Analysts had expected a drop to 775,000. Separately, the Challenger Job Cuts survey suggested that the pace of layoffs across the U.S. fell to its slowest since the beginning of the health crisis this year, showing just under 65,000 job losses in November, compared to over 80,000 in October. Meanwhile, investors will keep an eye on the claims report and ISM non-manufacturing PMI figures which will be released at 3:00 pm GMT.
US100 – has been trading in an sideways move after painting new ATH at 12500 pts on Monday. Currently index is testing the lower limit of the upward channel. If buyers will manage to break below it, then way towards support at 12 210 pts will be opened. Source: xStation5CrowdStrike (CRWD.US) jumped over 12% after company posted better than expected quarterly figures. Cybersecurity company earned 8 cents per share on $232.5 million in revenue while Wall Street had projected CrowdStrike would break-even on revenue of $213.5 million.
CrowdStrike (CRWD.US) – stock launched today’s session with a massive bullish price gap and painted fresh ATH at $162.00. If the current sentiment prevails, then upper limit of the upward channel could be at risk. On the other hand, if sellers will manage to regain control, then nearest support lies at $154.52. Source: xStation5
Splunk (SPLK.US) stock plunged 21% in premarket after the software company posted weak quarterly figures. Splunk lost $1.39 per share, while analysts' expected smaller loss of 51 cents a share. Company's revenue also came in below expectations.
Dollar General (DG.US) stock fell 2% despite the fact that company posted upbeat quarterly results. Its same-store sales jumped 14% between Oct. 31 and Dec. 1. The discount store earned $2.31 per share in the third quarter, while analysts expected earnings of $2.00 per share. Dollar General sees 'elevated demand' in its discount retail stores around the country this quarter, but declined to publish near-term earnings projections.
Snowflake (SNOW.US) stock fell 2.6% after the company posted its first quarterly results since its IPO. Software company reported revenue growth of 119% year over year in the third quarter, compared to a 121% growth in Q2. However, the company posted a per-share loss of $1.01, wider than analysts’ forecasts that called for a loss of 26 cents. Meanwhile gross margin fell to 58.2% from 59.6%.
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