US OPEN: Wall Street kicks off new month on weak note

• US indices launched today's cash trading lower
• US ISM manufacturing index for July
• Boeing (BA.US) could resume deliveries of its 787 Dreamliner jet

Major Wall Street indices launched the new month  on a negative tone  as markets await another slew of economic data and earnings reports. Recent weak GDP report raised speculation that FED may take a less aggressive approach when it comes to interest rates, despite ongoing price pressure, however a lot will depend on upcoming data. At the same time, overall solid earnings results from major US companies support market sentiment. Today investors’ attention will focus on ISM manufacturing index for July at 3:00 pm BST.

US30 launched a relief rally last week following the FED meeting and quarterly results from big tech firms. Index broke above local resistance at 32410 pts which coincides with 38.2% Fibonacci retracement of the last downward wave and if current sentiment prevails upward move may accelerate towards next resistance at 34125 pts. On the other hand,  if sellers manage to regain control, another downward impulse towards support at 31320 pts may be launched. Source: xStation5

Company news:

Boeing (BA.US) stock jumped over 5.0% in premarket after the Federal Aviation Administration has reportedly approved inspection protocol revisions thanks to which deliveries of 787 Dreamliner may be resumed, according to CNBC.

Boeing (BA.US) launched today’s session higher, above major support at $162.80, which is marked with upper limit oft he1:1 structure and 61.8% Fibonacci retracement of the upward wave launched in March 2020. As long as the price sits above aforementioned support, buyers may launch an attack towards local resistance at $162.80. Source: xStation5

Alibaba (BABA.US) ADRs rose more than 1.0% in premarket after the Chinese e-commerce giant said it will try to remain listed on New York Stock Exchange. Company was placed on a delisting watchlist by U.S authorities for not meeting auditing requirements.

Nio (NIO.US) ADRs jumped nearly 3.0% before the opening bell after the Chinese electric-car producer announced plans to open its first overseas plant in September. The plant will be built in Hungary and will make power products for the European market.

Global Payments (GPN.US) shares surged more than 5.0% in premarket after the financial technology company decided to acquire its smaller peer EVO Payments (EVOP.US), in order to increase its market share in the business-to-business space.