- US stock opened flat
- US30 broke above major resistance zone
- United Parcel Service (UPS.US) stock soars after solid quarterly results
Wall Street launched the new month in a mixed mood following a wild January which brought heavy losses for the three main indices, with the S&P and the Nasdaq recording their worst month since March 2020. Investors struggle with a Federal Reserve policy shift and are awaiting more key earnings reports, with Alphabet, General Motors, Starbucks, AMD and PayPal due after the close. Meanwhile, the ISM Manufacturing PMI and the JOLTS report will also be in the spotlight today.
US30 launched the new month in an upbeat mood. Index broke above major resistance at 34745 pts which coincides with 61.8% Fibonacci retracement of the upward wave launched in September 2021. If current sentiment prevails, the next target for buyers is located at 35500 pts and coincides with 200 SMA (red line) and 38.2% retracement. Source: xStation5
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United Parcel Service (UPS.US) stock jumped over 7.0% in the premarket after the company posted better than expected quarterly figures, issued upbeat guidance and increased dividend by nearly 50%. UPS earned an adjusted $3.59 per share in Q4, beating analysts’ expectations of $3.10.
United Parcel Service (UPS.US) stock launched today's session with a massive bullish price gap and hit a new all-time high at $225.90 which coincides with 112.8% external Fibonacci retracement of the downward correction launched in May 2021. Source: xStation5
Tesla Inc (TSLA.US) will recall 53,822 cars in the US equipped in Full Self-Driving (Beta) software that may allow some models to conduct "rolling stops" and not come to a complete stop at some intersections posing a safety risk.
Exxon Mobil (XOM.US) stock rose more than 1% in premarket after the oil giant earned $2.05 per share for the fourth quarter, topping analysts’ projections of $1.93, while revenue figures disappointed. Exxon also announced a new $10 billion stock buyback program, resuming repurchases for the first time in more than five years.
AT&T Inc (T.US) stock fell over 3.0% in premarket after the company announced today it will spin off WarnerMedia in a $43 billion transaction to merge its media properties with Discovery (DISCA.US) Inc and also cut its dividend by nearly half. Shareholders will receive 0.24 shares of Warner Brothers Discovery for each AT&T share they now own.
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