- US stocks open slightly higher
- NFP report well below expectations
- Tesla (TSLA.US) is moving headquarters to Texas
US indices launched today's session slightly higher following a weak NFP report which showed the US economy added only 194k jobs in September, well below analysts' estimates of 500k the Labor Department reported. The unemployment rate fell to 4.8% and average hourly earnings edged up. Investors now try to assess what the Fed's next steps will be as the odds were rising the central bank would start tapering next month.
US2000 bounced off the local resistance at 2258 pts which coincides with lower limit of the triangle formation after publication of NFP report. Index is currently testing 200 SMA ( red line). Should break lower occur, downward move may be extended to the 2227 pts handle or even lower limit of the triangle formation. Source: xStation5
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Tesla (TSLA.US) will move its corporate headquarters to Texas from California, with CEO Elon Musk noting the high cost of living and operating in California. Electric car maker is planning to increase production at its plants in California and Nevada.
Tesla (TSLA.US) stock has been trading in an upward trend recently, however buyers struggle to break above major resistance at $815.00 which coincides with the upper limit of the ascending channel. Currently the price is heading towards local support at $765,00 which is marked with earlier price reactions. Should break lower occur, then downward move may accelerate towards the support zone around the psychological $700,00 level. Source: xStation5
Oatly (OTLY.US) shares surged more than 5.0% in the premarket after J.P. Morgan Securities upgraded the oat milk maker stock to “overweight” from “neutral.” Bank believes that after 49% drop from a June peak the upside potential was far greater than the downside risk.
Oshkosh (OSK.US) stock fell 4% after the truck maker cut its fourth-quarter guidance, citing supply-chain and logistics disruptions hurting its ability to make shipments.
Chubb (CB.US) is buying the Asia Pacific and Turkey businesses of rival insurer Cigna (CI.US) for $5.75 billion in cash. The transaction is expected to be completed sometime next year.
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