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US markets open lower
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University of Michigan data disappoints
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Disney has almost 95m Disney+ subscribers
US markets opened slightly lower on the final trading day of the week after the S&P 500 index and Nasdaq closed at all-time highs the day before. Investors from the United States are still monitoring stimulus news as the Democrats continue their push for a $1.9 trillion relief package consisting of $1,400 checks among others. University of Michigan data came in below market expectations as the headline index fell to 76.2 from 79.0 (vs exp. 80.8).
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Create account Try a demo Download mobile app Download mobile appUS500 remains stuck in a narrow trading range. The index has been fluctuating around the 50- and 100-hour moving average for some time. One cannot rule out that US500 will finish the week in that range should no trigger event occur. The first support level may be found at 3,890 pts. Traders might also want to watch whether the index respects the local upward trendline on H1 interval. Source: xStation5
Company News
Walt Disney (DIS.US) reported its quarterly earnings after Thursday’s close. The company posted an adjusted EPS of $0.32 and revenue of $16.25 billion, compared to consensus estimates of an adjusted loss per share of $0.38 and revenue of $15.91 billion. The firm said that Disney+ reached 94.9 million subscribers, above expectations of 90.7 million. “Disney+ has exceeded even our highest expectations,” CEO Bob Chapek said on a conference call. Disney+ had just 26.5 million subscribers a year earlier.
Walt Disney (DIS.US) fell more than 1% despite upbeat quarterly results and Disney+ figures. Recently the stock price has broken above the upper limit of the upward channel and successfully stays above it. Recent highs ($183.50) may be seen as the next short-term support should the pullback continue. Source: xStation5
Aurora Cannabis (ACB.US) plunged as the company reported a wider-than-expected loss in the fiscal second quarter. The firm’s CEO said that 2020 was a difficult year, but the company is supposedly “back on offence” due to new strategy. Aurora Cannabis expects to continue progress toward positive cash flow.
Virgin Galactic (SPCE.US) plummeted today as the company delayed its next spaceflight test, which was scheduled for this weekend. The company said in a statement that it decided to allow more time for technical checks.
