US OPEN: Wall Street extends yesterday's upward move

• US indices launched today's cash trading higher
• US100 bounced off major support
• Tesla (TSLA.US) attempts to erase yesterday's sharp losses

US indices launched today's session higher after it turned out that Credit Suisse's alleged financial problems proved to be exaggerated. Also investors expect that the Fed may slow the pace of future rate hikes, after fresh ISM Manufacturing PMI figures showed an unexpected slowdown in US factory growth. Money markets now expect the central bank to raise rates by 125 bps by March, below 165 bps seen last month. However one needs to remember that Fed members continue their hawkish rhetoric. Fed Williams said that tighter monetary policy has begun cooling demand and reducing inflation pressure, but the job is far from done.

US100 once again managed to defend the key support zone around 11100 pts and launched a recovery move. If buyers will manage to uphold upward momentum, resistance at 12000 pts may be at risk. Source: xStation5

Company news:

Tesla (TSLA.US) stock rose more than 3% in the premarket, erasing some of yesterday's losses which were triggered by disappointing third-quarter delivery numbers.

Tesla (TSLA.US) stock launched today's session higher and is slowly climbing towards local resistance at $253.00 which is marked with previous price reactions. Nevertheless, the main trend remains bearish as long as price sits below the resistance at $267.15, which coincides with 38.2% Fibonacci retracement of the upward wave launched in March 2020 and lower limit of the triangle formation. Source: xStation5

Rivian (RIVN.US) stock jumped over 9.0% in premarket after the electric vehicle maker announced that production in Q3  increased 67% compared to previous quarter. The company also maintained its full-year production guidance of 25,000 vehicles.

Bank of America (BAC.US) stock rose nearly 2.0% before the opening bell as the financial giant plans to invest $100 million in banks that focus on minority communities, taking equity stakes of less than 5% of each lender.

Domino’s Pizza (DPZ.US) shares added nearly 3.0% after UBS upgraded its stance on the pizza chain to ‘buy’ from ‘neutral’, as it believes demand slowdown concerns are exaggerated.