Falls on Wall Street are slowing after today's weak NFP reading, which recorded a much smaller than expected change in employment (199k vs. 400k expected). The unemployment rate fell to 3.9% (vs. 4.1% expected) and annualized wages rise to 4.7%, which may put additional upward pressure on yields (10-year Treasury bond yields rise to 1.75% after the NFP release) and the strengthening US dollar. The pressure to further increase inflation is having a negative impact on Wall Street, which is experiencing small declines.
Looking at the chart of the US100 index on the D1 interval, we can see that currently the support level is being tested, which is determined by the confluence of the 50% Fibo and EMA 100 (purple line). If these supports are broken and declines accelerate, it is possible that levels near the lower limit of the long-term uptrend (green, dashed line) will be tested. The nearest resistance is the EMA 50 (blue line). Source: xStation 5
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GameStop (GME.US) shares are up 18% ahead of today's open after news that the company is opening a new division focused on cryptocurrencies and NFT. The company aims to collaborate on developing games and items for the NFT market.
GameStop (GME.US) shares opened today's session with a strong bullish price gap, which exceeded the 23.6% Fibo limit. If the demand side manages to maintain the current gains, it is possible to continue the upward movement to the area of the EMA 200 (yellow line) and EMA 50 (blue line) confluence. The key support level remains the local low, near the level of $121.5 per share. Source: xStation 5
Moderna's (MRNA.US) CEO, Mr. Stephane Bancel said that another booster injection against Covid-19 may be necessary as vaccine efficacy is declining, and a fourth dose may be needed in the fall of 2022.
Visa (V.US) is down 1.4% ahead of the market open after Mizuho cut its rating on the company from 'buy' to 'neutral'. Mizuho argues that cash-to-card conversion opportunities are running out and competition continues to grow
Newspaper publisher The New York Times (NYT.US) is down 1.4% ahead of the open of today's session after announcing a $550m deal to buy sports site The Athletic. Earlier reports suggested that the deal had already been finalized.
