• US30 is testing major resistance level
• Pelosi expresses hope that deal can be made with White House on COVID-19 relief
• Uber (UBER.US) received 18-month London license
• Pelosi expresses hope that deal can be made with White House on COVID-19 relief
• Uber (UBER.US) received 18-month London license
US indices start week in bullish mood. Investors continue to track global coronavirus figures and the risk of further lockdowns and await for further economic data and political developments in the US. New daily coronavirus cases topped 1,000 in New York state on Saturday, marking the first time the state’s new infections have broken the 1,000 threshold since early June. The House Speaker Nancy Pelosi expressed hopes a deal with the Republicans can be reached and said talks are continuing as the Democrats try to forge ahead on a smaller aid package of about $2.4 trillion. Meanwhile President Donald Trump announced that he will nominate Judge Amy Coney Barrett to fill the vacancy left by the death of Justice Ruth Bader Ginsburg on the Supreme Court. On the corporate front, federal judge has temporarily blocked an order from the Trump administration, which would have banned TikTok, staring Sunday, from being downloaded from U.S. app stores. However much broader ban, which will come into force on Nov. 12 and could effectively make TikTok unusable has not been halted. An offer submitted by Oracle and Walmart to take minority stakes in a newly created U.S. company TikTok Global remains stalled.
US30 started the week on positive note. Index is currently testing local resistance at 27408 pts which is additionally supported by 50 MA(green line). In case sellers manage to halt advances here, then another downward impulse towards 26077 pts could be launched. On the other hand , breaking above the aforementioned resistance may trigger a bigger downward move toward 28090pts. Source: xStation5Uber (UBER.US) won the court hearing today and will continue operating in London, as a judge overturned a ban on the ride-hailing app by the city’s transport regulator and granted it a new 18-month license. Last year, Transport for London (TfL) stripped Uber of its license for a second time — it first declined to renew Uber’s London license in 2017 — citing a “pattern of failures” that had put passengers at risk. TfL said a glitch in Uber’s systems allowed unauthorized drivers to upload their photos to other driver accounts and fraudulently pick up passengers in at least 14,000 journeys. However judge said he had “sufficient confidence” Uber “no longer poses a risk to public safety.” “Despite their historical failings, I find (Uber), now, to be a fit and proper person to hold a London PHV (private hire vehicle) operator’s licence,” judge Ikram said in his judgement.
Uber (UBER.US) – stock price bounced of the 50 MA (green line) on Friday and launched today’s session with a bullish price gap. Should upbeat moods prevail, resistance at $38.49 may come into play. Source: xStation5Amazon (AMZN.US) announced that its annual shopping event, Prime Day, will take place on Oct. 13 and 14. The company earlier this year postponed the two-day shopping event, started in 2015 to drum up sales during the summer shopping lull, due to the COVID-19 pandemic. This year, Amazon is aiming for an early kickstart to the holiday season with the new timing.
Ford (F.US) stock gain 1.5% in extended trading after the German newspaper Handelsblatt reported that the company has applied for 500 million euros ($581 million) of German loan guarantees aimed at helping domestic companies hit by the fallout from the pandemic.
WPX Energy (WPX.US) shares surged 13% after U.S. shale producer Devon Energy (DVN.US) announced it would buy its peer in an all-stock deal that would create a combined company worth around $12 billion.
Cleveland-Cliffs (CLF.US) shares added 8.8% after the largest U.S. producer of iron ore pellets decided to acquire the U.S. assets of the world's largest steelmaker ArcelorMittal for about $1.4 billion in cash and shares.
Caesars Entertainment (CZR.US), stock rose over 6% after the casino operator disclosed a cash offer of 2.9 billion pounds to buy London-based sports betting company William Hill (WMH.US).
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