- US stocks opened lower
- FOMC minutes at 7:00 pm BST
- Rivian (RIVN.US) expects to reach this year’s production target
US indices launched today’s session lower, extending yesterday's losses following recent hawkish rhetoric from Lael Brainard and other high-ranking Federal Reserve officials. The Dow Jones fell 250 points at the opening bell, while the S&P 500 and the Nasdaq 100 dropped 0.8% and 1.3% amid rising concerns that inflation and higher interest rates could push the economy into a recession, with the gap between 2-year and 10-year bond yields widening further. In the evening investors’ attention will focus on Fed meeting minutes. Powell hinted that more details on balance sheet reduction discussions will be included in minutes so release will be closely watched.
US100 pulled back sharply after buyers failed to break above major resistance at 15000 pts, which coincides with 200 SMA (red line). If current sentiment prevails, then support at 14375 pts may be at risk. Should break lower occur, downward correction may deepen towards support at 13540 pts Source: xStation5
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Rivian (RIVN.US) stock rose over 2.5% in the premarket after the electric vehicles producer announced it should achieve its previously stated production target of 25,000 cars this year.
Rivian (RIVN.US) stock price bounced off the upper limit of the descending channel at the end of march and reached local support at $42.00 which is marked with previous price reactions. Should break lower occur, downward move may accelerate towards $33.65 where March lows are located. However if buyers managed to regain control, another upward move towards resistance at $54.75 may be launched. Source: xStation5
JetBlue Airways (JBLU.US) stock fell 3.5% before the opening bell after the carrier made a takeover offer of $3.6 billion for its competitor Spirit Airlines (SAVE.US), potentially disrupting merger plans between Spirit and Frontier Group.
Tilray (TLRY.US) stock surged 7.5% in premarket after the cannabis producer recorded an unexpected profit for the latest quarter, even as revenue came in below market projections. Company also announced a deal with supermarket chain Whole Foods.
Uber (UBER.US) shares dropped more than 2.0% in premarket after the ride-hailing company plans to add trains, buses, planes and car rentals to its U.K. app this year.
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