Upbeat moods prevail on global stocks markets today as the bullish sentiment was exceptionally strong in Asian markets. Shanghai Composite rose a staggering 5.71%! In fact, Chinese stocks rallied the most since 2015. Investors’ excitement smoothly moved to Europe where gains exceed 1.50% now. American investors decided to join the rally as well. US major indices surge over 1% with Nasdaq soaring the most (approx. 2.00%).
US investors might be very satisfied with the today’s PMI and ISM Non-Manufacturing readings. Both came in above analysts’ expectations - ISM did exceptionally well as 3 subindices managed to break through 60 pts mark! In fact, positive news from the data from might help the ongoing rally in the United States.
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Nasdaq (US100) managed to climb to fresh all-time highs today. As global stocks continue to surge, US100 is gradually drifting away from the first major support (10 295 pts area). Source: xStation5
Uber Technologies (UBER.US) officially announced that it will acquire food-delivery service Postmates. In an official announcement, Uber confirmed that it will acquire Postmates for approx. $2.65 billion in an all-stock transaction. Uber shares were already surging over 8% in the pre-market trading. Just as one could expect, Uber stock price opened with a bullish gap at the US open.
Berkshire Hathaway (BRKA.US) agreed to buy Dominion Energy’s natural gas transmission and storage assets for $4 billion. Should one include debt, the transaction amounts to roughly $10 billion. “We are very proud to be adding such a great portfolio of natural gas assets to our already strong energy business,” said Warren Buffet, CEO of Berkshire Hathaway.
Tesla (TSLA.US) was raised to $1,500 from $1,050 at JMP Securities. The firm mentioned in the report that the automaker is positioned to generate $100 billion in annual revenue by 2025.
Regeneron Pharmaceuticals (REGN.US) announced that it had started late-stage clinical trials evaluating Regn-Cov2 - a cocktail designed to treat and prevent coronavirus. The trial is run jointly with the National Institute of Allergy and Infectious Diseases. The process is set to test the cocktail’s ability to prevent infection in 2 thousand people who have been exposed to the virus (for instance: by housemates).
Regeneron Pharmaceuticals (REGN.US) was barely damaged from the February-March sell-off. In fact, the stock has been in an upward trend for many months now. As share price climbed to fresh all-time highs, one should be cautious about the $605.00 area - previous ATH from 2015. As one can notice on the chart above, investors should expect some price reactions there. Source: xStation5
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