CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

US Open: Wall Street struggles for direction at the market open 🧭

15:05 8 April 2024
  • Indexes gain at the opening of the session
  • Weaker dollar supports stock quotes
  • Bond yields strongly gain

At the beginning of the new week, markets in the USA open slightly higher, extending better moods in Europe as well as earlier in the Asia-Pacific region. Gains on Wall Street are supported by a weakening dollar. The USDIDX index is quoted almost 0.15% lower. Interestingly, the yields of U.S. bonds are indicating a different direction, gaining today to the level of 4.43%. These levels were last seen at the end of November 2023. The high volatility in USD and yields could be a harbinger of the upcoming CPI and PPI reports this week. These reports will likely bring increased volatility, and high inflation readings may confirm a longer period of high-interest rates in the USA.

US500

The indexes in the USA are moderately gaining at the beginning of the session. US500 is quoted at 0.05% and US100 around the opening levels. However, the gains have already been partially erased, as they earlier reached above 0.10%. US500 futures on the S&P500 index are starting to give back some of the gains after Friday's session. The nearest support point is now the level of 5190 points, marked by the local bottom last week and local peaks at the beginning of March.

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Source: xStation 5

 

Company News

EHang Holdings Limited's (EH.US) gains 11.80% following the acquisition of the Production Certificate (PC) from the Civil Aviation Administration of China for its EH216-S eVTOL aircraft. This marks the first PC issued in the global eVTOL industry and is a significant milestone towards mass production and commercial use of the eVTOL aircraft.

Fastly (FSLY.US) increases over 5.30% after a recommendation upgrade to Overweight from Neutral by Piper Sandler. Analysts anticipate benefits from growing market share and favorable pricing, considering the current stock valuation as presenting a positive risk-reward scenario.

Cryptocurrency related companies are recording a substantial gains as Bitcoin surpassed the $72,000 level. Notable rises included Coinbase Global (COIN.US) by 6.80%, Riot Blockchain (RIOT.US) by 1.9%, Marathon Digital Holdings (MARA.US) by 1.28%, Hut 8 Mining (HUT.US) by 4.8%, Cleanspark (CLSK) by 5.20% or MicroStrategy Incorporated (MSTR.US) by 8.17%.

Source: xStation 5

Palatin Technologies (PTN.US) gains over 18% following the announcement of positive Phase 3 data for their drug candidate PL9643, intended for treating dry eye disease. The successful results met the co-primary endpoint of pain relief and several secondary symptom endpoints. These findings were shared at the American Society of Cataract and Refractive Surgery meeting.

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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