US OPEN: Bullish rally at start of Wednesday session; US100 gains nearly 1% 📈

• US100 gains 1% in early Wednesday session
• Macy's cuts forecasts amid internal scandal
• Mondelez (MDLZ.US) gains 4% after the food company announced the authorization of a $9 billion share buyback
• Take-Two Iteractive (TTWO.US) considered a top pick in the media sector by Citi analysts

Markets in the US open Wednesday's cash session in a good mood. Five minutes after Wall Street opened, the Nasdaq is gaining 0.95%, while the S&P500 is adding 0.56%. Investor attention today is focused on corporate news and CPI data.

Current volatility observed on Wall Street. Source: xStation 

US100

The Nasdaq-100 index, represented by the US100 contract is trading 0.5% higher today compared to yesterday's close. The index continues its dynamic upward trend all the time. From a technical perspective, it seems that support set by the 50-day EMA (blue curve on the chart), the pierced peak of November 11 and the psychological level of 21,000 points may be key to sustaining the increases. The local resistance level, which may determine whether the instrument will try to break out to new record levels, is the 21,700-point area.

Source: xStation 5

Corporate news

Broadcom (AVGO.US) shares are gaining nearly 4% at the start of the session amid news that the company is collaborating with Apple (AAPL.US) on an AI chip that could hit the market in 2026. 

Take-Two Interactive (TTWO.US) was named a top pick in the media sector by Citi analysts.  The bank expects “solid sales” for Grand Theft Auto VI and lauds a “solid pipeline of other productions” that could act as a positive catalyst going forward.

Macy's (M.US) is down 10% as management lowered its profit forecasts following an investigation into an employee conspiracy to hide millions of dollars.

2025 FORECAST

• Adjusted earnings per share (EPS) $2.25-2.50, $2.55-2.90
• Net sales $22.3 billion to $22.5 billion, $22.1 billion to $22.4 billion.
• Gross margin 38.2% to 38.3%, 39% to 39.2%.

Mondelez (MDLZ.US) gains 4% after the food company announced the authorization of a $9 billion share buyback.