Tesla, Apple and US claims data boosts Wall Street sentiment 📊
- Apple erases declines from yesterday's session, US100 gains more than 2%
- Tesla gains on bullish comments from Morgan Stanley
- US unemployment claims came in higher than the previous reading and analysts expectations
Thursday's session on Wall Street brings sharp gains for major stock market benchmarks, which are trying to erase recent sell-offs. The market is driven by several factors, but the bulls' dominance is mainly due to the strongly rising Tesla (TSLA.US) shares, which are currently gaining nearly 9% thanks to favorable comments from Wedbush analysts, joined today by the Morgan Stanley fund. Yesterday's declines are also erased by Apple's shares, which are gaining 2.9%. Microsoft (MSFT.US) Amazon (AMZN.US) and Meta Platforms (META.US) stocks are also doing very well. U.S. indexes fallen almost continuously since mid-December amid recessionary fears and hawkish central banks. Today bulls are trying to reverse bearish momentum.
US100 is climbing above the 11,000 level. The Relative Strenght Index (RSI) is approaching 78 points, signaling an overbought level.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile app
Investor sentiment was also improved in part by a higher-than-expected reading on unemployment claims, with continuing claims rising. Weaker labor market data continues to support expectations for an earlier Fed pivot. In essence, negative reports of a sharper pandemic outbreak in China catalyzed a rise in the share prices of medical companies including Pfizer (PFE.US), Moderna (MRNA.US), Biontech (BNTX.US) and Novavax (NVAX.US), which is gaining more than 15% today.
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.
