- US stock opened mixed
- ADP report well above expectations
- Beyond Meat (BYND.US) fried chicken will be sold at KFC
Major Wall Street indices launched today’s session in mixed moods after ADP data showed that private job growth totaled 807,000 in December, more than double analysts' expectations of 400,000. The IHS Markit US Services PMI was revised slightly higher to 57.6 in December from a preliminary of 57.5, pointing to another steep expansion in the services sector. The Dow Jones extended records for a 3rd straight session on Wednesday while both the S&P 500 and the Nasdaq traded in the red, with soaring Treasury yields pressuring the tech sector. Later in the session investors’ attention will focus on FOMC Minutes, which may reveal more details regarding FED next steps.
US100 fell sharply during yesterday’s session and downbeat moods prevail today. Index is approaching the major support zone around 16077 pts which is marked with previous price reactions, 50 SMA (green line) and upper limit of the earlier broken descending channel. Should break lower occur, downward correction may deepen towards 15750 pts level. On the other hand, if buyers will manage to regain control, then another upward move towards all-time high at 16775 pts may be launched. Source: xStation5
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appCompany news:
Beyond Meat (BYND.US) stock jumped 9% in premarket after KFC announced that it will roll out the company’s fried chicken substitute in the US, following tests in a number of markets.
Beyond Meat (BYND.US) has a difficult year behind it during which its stock price fell 70%. At the moment it seems that buyers managed to halt declines around $62.00 level. Recent news regarding cooperation with KFC lifted market sentiment and its stock price is currently approaching the earlier broken lower limit of the descending channel. Should break higher occur, upward move may accelerate towards 50 SMA (green line) which acted as resistance in the past. Source: xStation5
Pfizer (PFE.US) and BioNTech (BNTX.US) stocks both rose more than 2.0% in premarket after both drugmakers announced that they will join forces in order to develop an mRNA-based vaccine against shingles, a debilitating and painful disease. Bank of America also upgraded Pfizer stock to “buy” from “neutral”.
Nikola (NKLA.US) stock added over 2.0% in premarket after logistics company USA Truck confirmed that it is willing to buy 10 electric Nikola trucks. Separately, Nikola has dropped a $2 billion patent lawsuit against Tesla (TSLA.US), according to a federal court filing in San Francisco.
Adobe (ADBE.US) stock fell more than 2.0% in the premarket after UBS downgraded the software maker to “neutral” from “buy” after the firm spoke with more than a dozen IT executives about their 2022 spending plans. UBS thinks more spending was pulled forward into 2020 and 2021 than is generally assumed.
