- US indices launched today's cash trading higher
- US2000 bounced of key support zone
- Tesla (TSLA.US) announced disappointing deliveries figures
US indices launched a new quarter in upbeat moods as investors digested rising inflation figures and hawkish speeches from several Federal Reserve policymakers and acknowledged that interest rates will be pushed to a restrictive level and likely stay high for longer, even at the risk of a recession. This week traders attention will focus on the NFP report for September which may provide more hints regarding the FED rate-hike path. In Q3, the Dow plunged 6.7% to notch a three-quarter losing streak for the first time since 2015. Both the S&P and Nasdaq Composite fell 5.28% and 4.11%, respectively, to finish their third consecutive negative quarter for the first time since 2009.
US2000 fell sharply last week, however sellers once again failed to break below major support at 1650 pts, where lows from June 2022 are located. As long as the price sits above another upward impulse towards resistance at 1790 pts may be launched. Source: xStation5
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Myovant Sciences (MYOV.US) shares jumped over 31.0% in the premarket after the biopharmaceutical company rejected a bid by its largest shareholder, Sumitovant Biopharma, to buy the shares it doesn’t already own for $22.75 per share. Myovant said the offer significantly undervalues the company.
Myovant Sciences (MYOV.US) stock launched today's session with a bullish price gap and is trading above the upper limit of the wedge formation. If current sentiment prevails, upward move may accelerate towards resistance at $27.40 where highs from September 2021 are located. Nearest support to watch lies at $16.80. Source: xStation5
Viasat (VSAT.US) stock added over 12.0% after the WSJ reported that defense contractor L3Harris Technologies (LHX.US) is ready to finalize a deal to acquire a military communications business from the satellite specialist.
Box (BOX.US) shares rose nearly 4.0% before the opening bell after Morgan Stanley upgraded the cloud computing company’s stock to “overweight” from “equal-weight,” pointing to strong execution and a favorable competitive landscape.
Robinhood Markets (HOOD.US) stock fell over 1.0% before the opening bell after the trading platform announced closure of five additional offices, which will result in charges of about $45 million.
Tesla (TSLA.US) stock plunged nearly 6.0% in the premarket after the top EV producer recorded more than 343,000 vehicle deliveries in Q3, up 42% from a year ago, however below analysts’ estimates.
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