- US indices launched today's cash trading sharply higher
- US CPI fell sharply in October
- AstraZeneca (AZN.US) stock surges on upbeat quarterly results
Three major US indices launched today's session sharply higher, with Dow Jones jumped over 2.30%, while S&P500 and NASDAQ rose 3.40 and 4.70% respectively as latest CPI reading showed that price pressure began to moderate, which raises hopes that FED will ease pace of tightening. The annual inflation rate eased to 7.7%, below analysts estimates of 8%, reinforcing the case for a modest 50 bps hike in December. Following the publication of today's data stocks rocketed while US dollar and Treasury yields took a hit. On the political front, US voters delivered a mixed verdict in midterm elections, challenging expectations for a Republican sweep and a Congress gridlock.
S&P 500 index stocks categorized by sectors and industries. Size represents market cap. Source: Finviz
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US100 rose nearly 5.0% on Thursday and if buyers manage to uphold current momentum, the upward move may be extended to the local resistance at 11700 pts where recent highs are located. On the other hand, if sellers manage to regain control, pullback towards support at 10460 pts cannot be ruled out. Source: xStation5
Company news:
AstraZeneca (AZN.US) shares jumped nearly 5.0% in premarket trading after the drug maker posted solid quarterly figures and raised its full-year financial outlook thanks to better than expected sales of its cancer drugs.
AstraZeneca (AZN.US) stock launched today's session with a bullish price gap, well above local resistance at $62.65 which coincides with 23.6% Fibonacci retracement of the upward wave launched in March 2020. If current sentiment prevails, upward move may accelerate towards summer highs around $68.40. Source: xStation5
Tapestry (TPR.US) stock fell nearly 4.0% after the owner of Coach and Kate Spade brands posted upbeat quarterly results, but lowered its full-year guidance as strengthening U.S. dollar and China’s Covid-19 restrictions have a negative impact on its business.
Nio (NIO.US) ADR fell over 5.0% before the opening bell after the Chinese EV producer recorded a wider-than-expected quarterly loss, but expects that deliveries will nearly double in Q4 compared to last year levels.
Rivian (RIVN.US) stock surged over 16.0% in off-hours trading after the EV maker posted a smaller than expected quarterly loss and upholds its production target, even despite ongoing supply chain issues.
