- President Biden meets with financial regulators
- Speeches from Fed members
- Coinbase (COIN.US) stock drops on China crypto mining crackdown
Major US indices (besides Nasdaq) climbed on Monday as investors try to shrug off recent hawkish Fed meeting and St. Louis Fed President James Bullard comments regarding the potential first-rate increase in 2022. The US market today seems to be unaffected by overnight drop in Asian markets and a big decline in bitcoin. Today regulators are scheduled to brief President Joe Biden on the state of the financial system. Also stocks move sharply higher during speeches from Fed Bullard and Kaplan. The yield on the benchmark 10-year Treasury note was at 1.47% on Monday, after falling to a 4-month low of 1.4% early in the session.
US2000 fell sharply on Friday, however today’s buyers are trying to recover recent losses. Index is testing major resistance which previously acted as support at 2248 pts which coincides with 200 SMA (red line) and 38.2 Fibonacci retracement of the entire upward wave which started in mid-May. Should a break higher occur then another upward move towards resistance at 2305 pts may be launched. On the other hand, if sellers will manage to halt advances , then downward may be extended to the support at 2200 pts. Source: xStation5
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Create account Try a demo Download mobile app Download mobile appCoinbase (COIN.US) stock fell 3% in premarket after the cryptocurrency exchange was hit by a slide in bitcoin prices which was caused by recent actions from the Chinese government.
Coinbase (COIN.US) stock launched today’s session slightly lower and price is approaching the lower limit of the triangle formation. Should break lower occur, the next target for sellers is located at $207.06. On the other hand, if buyers manage to break above the upper limit of the formation, then an upward move towards resistance at $258.18 could be launched. Source: xStation5
Pershing Square Tontine Holdings (PSTH.US) stock rose more than 1% in premarket after the company announced that it will acquire a 10% shares in Universal Music from Vivendi. The deal values Universal Music – the world’s largest music company – at about $40 billion.
Tesla (TSLA.US) – former Tesla executive Jerome Guillen sold about $274 million in Tesla shares since June 10, according to a SEC filing. Guillen left the company at the beginning of June after 11 years, most recently running the company’s Tesla Heavy Trucking unit.
American Airlines (AAL.US) will reduce scheduled flights for the first half of July by about 950 flights, or 1%, to relieve strains on its operations as it deals with the sharp rebound in travel demand.
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