- US stocks open lower
- UoM consumer sentiment rises less than expected
- Invesco (IVZ.US) stock surges on M&A news
US indices launched today's session lower as investors remain cautious ahead of the FOMC meeting next week when the Fed is expected to provide more details on the tapering timeline. Also China regulatory crackdown on gambling and Evergrande’s debt crisis weighed on market sentiment. On the data front, the Michigan consumer sentiment edged slightly higher to 71.0 pts in early September, however today's reading failed to surpass market expectations of 72.0 pts.
US500 - buyers again failed to break above the 4475.5 pts level which coincides with 100 EMA (purple line) and upper limit of the downward channel. As a result index pulled back towards support at 4435 pts. Should break lower occur, then, then next support at 4417 pts may be at risk. Source: xStation5
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Invesco (IVZ.US) stock jumped over 6% in premarket after Wall Street Journal revealed that the investment management firm is in talks to merge with State Street’s (STT.US) asset management unit, however deal is not imminent and might not happen at all.
Invesco (IVZ.US) stock fell sharply yesterday, however sellers failed to break below the lower limit of the triangle pattern. Stock launched today’s session with a bullish price gap and broke above local resistance at $26.40 which coincides with previous price reactions and 50% Fibonacci retracement of the last downward wave. Next target for buyers is located at $27.15 and is marked with 61.8% Fibonacci retracement. Source: xStation5
Take-Two Interactive (TTWO.US) shares dropped more than 1.0% in premarket after BMO Capital downgraded the video game maker’s stock to “market perform” from “outperform.” after it delayed the release of the updated “Grand Theft Auto” game.
Diamondback Energy (FANG.US) stock rose nearly 4% in premarket after the energy producer announced a $2 billion stock buyback and accelerated capital return plan.
Eli Lilly (LLY.US) received FDA approval for expansion of the emergency use authorization for its Covid-19 treatment. The treatment can now be used in patients who could have a high risk of infection after being exposed to someone with Covid.
