Indices in the United States start today's session with gains despite elevated inflation levels. The CPI data reading was in line with analysts' consensus. The most important thing for the markets remains the FOMC decision on interest rate hike and the complexity of the new Omicron variant.
US500 rises after the US CPI reading. The index broke above the 78.6 Fibo retracement and tested the zone of recent local tops near 4700 points. If the bulls manage to overcome the above peaks, the next resistance will be the zones close to all-time highs. Support remains the level of 4670 points. Source: xStation 5
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The US CPI inflation reading rose in line with expectations to 6.8% YoY, in comparison to 6.2% last month. Core inflation showed 4.9% as expected. Stock indices reacted positively to the reading.
Elon Musk continues his cycle of selling Tesla (TSLA.US) shares. As reported by the SEC yesterday, the billionaire sold a stake valued at $963.2 million. In total, the Tesla CEO has sold $9.85 billion worth of shares this month. The reason for such large sell-offs may be a looming $15 billion tax bill.
Shares of Chewy (CHWY.US) fell 10% ahead of the release, after the company's quarterly losses exceeded expectations. Sales were in line with estimates, but profits were impacted by rising labour costs and supply chain issues.
Oracle (ORCL.US) shares shot up 19% after strong Q2 FY2022 results.
C3Ai (AI.US) is up 20% before the open of the Wall Street session after winning a $500 million contract for a suite of artificial intelligence products for the US Department of Defense.
C3Ai (AI.US) shares started today session with huge bull gap and approaching the resistance near $39 per share. The nearest support holds at the local low of $27.5 per share. Source: xStation 5
