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U.S. indices open mixed on Friday
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Democrats drafting a stimulus package of about $2.4 trillion
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Costco Wholesale with fourth-quarter results above expectations
American stocks opened mixed on Friday with Nasdaq being the only major index in the green territory. However, both Dow Jones and S&P 500 slipped to start today’s session and tech stocks eventually dived as well. While Wall Street is heading for fourth straight weekly loss, investors were offered some headlines on U.S. stimulus package. Democrats in the House have begun drafting a stimulus proposal of about $2.4 trillion. According to Bloomberg, the bill might get passed by the House next week.
US500 has been trying to recover before the U.S. open. While the 3,200 pts area served as key support lately, the 50-hour moving average (purple line) seem to be near-term resistance level for now. Note that the index could not break above the mentioned threshold a few times (orange circles). Traders should certainly pay attention to stimulus package news as any potential breakthrough may “move” the market. Source: xStation5
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Create account Try a demo Download mobile app Download mobile appCostco Wholesale (COST.US) for the first time reached $4 billion of profit in a fiscal year as the company’s earnings rose 27% in the fourth-quarter. The firm earned $3.13 a share on revenue of $53.38 billion (vs expected EPS of $2.85 a share on revenue of $52.11 billion). Comparable-store stales rose 11.4% compared to the 7.8% consensus estimate of analysts polled by Refinitiv.
Costco Wholesale (COST.US) is trading lower today despite better-than-expected financial results. While key resistance level remains at $362, the $331.50 may be regarded as the nearest support zone. Source: xStation5
Spotify Technology (SPOT.US) - Daniel Ek, the firm’s CEO, announced that he will commit 1 billion euros of his own resources to invest in European start-ups. Ek said that he would use the funds to make “moonshot” bets by focusing on deep technology. CEO is expected to work with scientists, investors and governments to make his investments.
Novavax (NVAX.US) announced that its coronavirus vaccine candidate entered late stage trials in the U.K. The company wants to enroll up to 10,000 participants.
Apple (AAPL.US) - The European Commission said that it would appeal a court ruling involving Apple and the Republic of Ireland, therefore the battle between the EU and Apple on taxation is not over yet (it involves as much as 13 billion euros in taxes). Earlier the EU’s general court ruled that the Commision had failed to prove that the Irish government had given any tax advantage to the iPhone-producer.
Boeing (BA.US) supplier Impresa filed for bankruptcy protection following the grounding of Boeing’s 737 MAX after two plane crashes. The plane was a key source of revenue for Impresa.
