• Moods on global equity markets improved
• US indices open higher
• Tiffany (TIF.US) trade sharply higher
• US indices open higher
• Tiffany (TIF.US) trade sharply higher
State of California goes into lockdown and Germany may follow its footsteps this weekend. Senate Republicans introduce a new stimulus package that includes helicopter money for US citizents and bailouts for airlines and other businesses. The dollar goes into retreat, as a massive expansion of central bank liquidity finally started to bring the supply of dollars back into line with demand.
US indices opened slightly higher today, Dow Jones rose 0.7%, the S&P 500 went up 0.5% and the Nasdaq gained 1.3% higher few minutes after the opening bell.
US indices opened slightly higher today, Dow Jones rose 0.7%, the S&P 500 went up 0.5% and the Nasdaq gained 1.3% higher few minutes after the opening bell.
S&P500 (US500) managed to hold above the key level of support at 2319.6 pts and launch a correction from the area. However, moves of the index over the coming days are likely to be steered by coronavirus developments. The near-term resistance can be found at 2568.2. Source: xStation5Tiffany (TIF.US) – share price went up based on news that LVMH is considering buying company’s shares on the open market, accordingly to Bloomberg. Tiffany’s shares went below $135 which was the takeover price that LVMH agreed to pay back in November. Tiffany reported quarterly profit of $1.80 per share, 3 cents a share above expectations. Revenue slightly disappointed, however comparable-store sales exceeded estimates.
Tiffany (TIF.US) share price soared in premarket trading and is heading towards major resistance level at $130.54. Source:xStation5Crowdstrike (CRWD.US) – reported a quarterly loss of 2 cents per share, smaller than the 8 cents a share loss that analysts predicted. The company also announced that the coronavirus crisis spurring more to work at home and raising the need for more cyber protection.
Crowdstrike (CRWD.US) share price is rising for the third day in a row and is currently testing resistance at $44.51. If this level breaks, then the price may move towards $53.06. Local support is located at the $32.08 level. Source:xStation5Tesla (TSLA.US) – Tesla will suspend production at its Fremont, California, factory on March 24, and said its New York solar roof tile factory will also suspend production. Tesla added that it believes its level of liquidity is sufficient to navigate the uncertainty surrounding the coronavirus outbreak.
Apple (AAPL.US) – is limiting online purchases of iPhones to two per customer, as it deals with supply chain disruptions as well as the closing of its brick-and-mortar stores outside China.
Walmart (WMT.US) – Walmart is hiring 150,000 more hourly workers to deal with a virus-related surge in shoppers. That follows a similar move by rival Amazon.com (AMZN.US) earlier this week. Walmart also announced it would pay a cash bonus of $300 to full-tie hourly workers and $150 to part-time employees.
