• Non-Farm Payrolls sinks to lowest level since 2009
• Number of infected people in the US is rapidly increasing
• TESLA share price soared
• Number of infected people in the US is rapidly increasing
• TESLA share price soared
US indices opened lower on Friday, after disappointing news from the labor market. For the first time since 2010, job growth turned negative as the NFP report showed the US economy shed 701K jobs in March, significantly below market expectations of 100K. To make things worse today’s non-farm payrolls report did not capture the last two weeks of unprecedented layoffs in the US economy. Better reading of ISM Non-Manufacturing PMI did not significantly affect the moods on the markets. The number of confirmed cases in the US is heading towards 250,000 and the death toll reached almost 6,100. Today's session is expected to remain volatile as investors remain very concerned about deteriorating economic conditions and the impact of the coronavirus on the US economy.
S&P500 (US500) is trading in the middle of the consolidation zone between 2395.3 pts and 2648.0 pts. Only a strong break through any of these two levels can lead to more rapid price action. Until then traders should expect more sideways movement. Source:xStation5Tesla (TSLA.US) – stocks rose more than 17% after hours trading on the news the company delivered 88,400 vehicles during the first quarter, up 40% from a year ago. The figures came above market expectations of 79,900. However the company did not comment how the coronavirus outbreak might impact sales in the future.
Tesla (TSLA.IT) – share price soared today and managed to break above the downward trend line. At the moment price is testing the local support at $490.14 per share. In case the current sentiment prevails, price may move towards next resistance level at $530.51. Local support can be found at $430.25. Source:xStation5Constellation Brands (STZ.US) – the producer of Corona and other beer and spirit brands reported better than expected quarterly earnings of $2.06 per share, beating the consensus estimate of $1.65 a share. Revenue also came in above forecasts. The company will not provide any full-year guidance due to the spread of the coronavirus pandemic.
Constellation Brands (STZ.US) share price went up based on positive earnings report. Stock reached the key resistance area today at $128.34 per share. Should a break above this level occur, upward move may accelerate. However if the bears regain control on the market then the share price might be heading towards $117.20 support zone. Source: xStation 5
Daily summary - Government stays shut, Market declines, crypto recovers
Extended decline at the end of a week! 🚨
US OPEN: Market extends decline at the end of the week
CAD Gains on Strong Canadian Labor Market Data 💡
