- US Senate agrees infrastructure bill draft
- Pfizer (PFE.US) and Moderna (MRNA.US) hike prices of their vaccines
- Square (SQ.US) stock slides after $29 billion Afterpay takeover
US indices started the new month in upbeat moods, as investors continue to focus on positive earnings reports and try to shrug off concerns over the rapid spread of the coronavirus delta variant. Dow Jones Industrial average futures rose 0.3%. S&P 500 futures gained 0.4% and Nasdaq 100 futures added 0.5%. The S&P 500 and the Dow sit less than 1% from new all-time highs. Traders also welcomed the prospect of more fiscal stimulus in the US where Senators reached agreement on the wording of a $1 trillion infrastructure bill, which may now be voted on in the Senate as early as this week. The bill includes $550 billion in new spending over five years. That’s on top of previously approved funds of around $450 billion.
US2000 launched today’s session higher however buyers struggle to break above major resistance at 2258 pts which is marked with upper limit of the 1:1 structure, 38.2 Fibonacci retracement of the recent upward wave and 200 SMA (red line). As long as price sits below it, then another downward impulse may be launched towards support at 2160 pts. Source: xStation5
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Create account Try a demo Download mobile app Download mobile appSquare (SQ.US) stock fell nearly 5% in premarket after the digital payments company announced acquisition of Australia’s Afterpay for about $29 billion in stock, representing a roughly 30% premium for Afterpay shareholders.
Square (SQ.US) stock bounced off the upper limit of the triangle formation around $268.19 last week and a downward move is being continued today following acquisition news. Price is approaching the major support zone around $225.55 which coincides with 200 SMA (red line) and lower limit of the triangle formation. Should break lower occur, then downward may be extended towards support at $192.60. Source: xStation5
Zoom Video (ZM.US) reached agreement regarding violations of the privacy rights of its users. The video conferencing company will pay $85 million to settle a lawsuit and will increase its security practices to prevent so-called “Zoombombing,” where hackers disrupted Zoom meetings.
Robinhood (HOOD.US) rose more than 1% in premarket after recent data from The Wall Street Journal showed that more than 300k users of the stock trading app bought company's stock last week after the IPO. That represents about 1.3% of the company’s funded account base.
Moderna (MRNA.US), Pfizer (PFE.US), BioNTech (BNTX.US) – Moderna and Pfizer both increased prices for their Covid-19 vaccines in their latest supply contracts, according to the Financial Times. Meanwhile, The Wall Street Journal reported that the Food and Drug Administration is under pressure to give both vaccines full approval and that this could happen within the next month for Pfizer and partner BioNTech. Moderna shares added more than 2.0% in the premarket, Pfizer rose 1%, while BioNTech jumped more than 5.0%.
