US OPEN: US100 under pressure in early Monday session

• Wall Street in mixed mood at the start of Monday's session 
• Early data show weaker iPhone 16 sales
• Intel gains after communication about cooperation with Pentagon 
• Morgan Stanley cuts target price for Micron shares 

US markets open Monday's cash session in mixed mood. Five minutes after Wall Street opened, the Nasdaq is losing 0.5%, while the S&P500 is down 0.1%. The Russell 200 is doing relatively well, adding 0.45%. Investor attention today is focused on corporate news. 

Current volatility observed on Wall Street. Source: xStation 

US100

The Nasdaq-100 index, represented by the US100 is trading 0.51% lower today compared to the close of Friday's trading. It is worth noting, however, that last week's gains knocked the index above the resistance zone, which was the 50-day exponential moving average (blue curve on the chart). It is the maintenance of this zone in the medium term that could be an important element defining the US100's sustained return to the uptrend. In the medium term, on the other hand, an important point of support may be the psychological zone near the 100-day and 200-day EMAs (purple curve and gold curve). The zone repeatedly tested by the demand and supply side near 19740 points can now be considered key resistance. 

Source: xStation 5

Corporate news

Apple (AAPL.US) shares are down 2.4% early in Monday's session, as demand for the iPhone 16 Pro is lower than expected, based on an analysis of pre-orders for the first weekend.

Sales of the iPhone 16 series pre-orders in the first weekend are estimated at about 37 million units, down about 12.7% year-on-year compared to the iPhone 15 launch. 

Intel (INTC.US) is up nearly 2%, after the chipmaker officially qualified for as much as $3.5 billion in federal grants to produce semiconductors for the Pentagon.

Trump Media (DJT.US) is up 1.9%, after Donald Trump said he has “absolutely no intention of selling” his shares when the “lockup” expires later this week.

Volatility is high today on Micron (MU.US), which is losing 2.8% after Morgan Stanley cut its target price on the company's shares by $40 from its last valuation, to $100 per share. 

ANALYSTS' RECOMMENDATION

- Summit Therapeutics (SMMT.US): HC Wainwright raised the target price on the company's shares to $45 per share versus $30 previously.

- Carvana (CVNA.US): Evercore raised its target price for the company's shares to $157 per share versus $142 previously.