- US indices launched today's cash trading in mixed moods
- US30 bounced off support
- Deere (DE.US) surges on upbeat quarterly results
Three major Wall Street indices launched today's session in mixed moods as investors remain cautious ahead of today’s FOMC minutes which may provide more hints regarding FED future rate hike path. Recent remarks from Fed officials, including Cleveland President Loretta Mester and his Kansas counterpart Esther George, have offered mixed hints about the central bank's rate path but have reiterated that a pause is still premature and money markets now price in a 50 bp rate hike next month.
US500 managed to break above key resistance at 4000 pts. As long as the index sits above, another upward impulse may accelerate towards 200 SMA (red line) or even downward trendline. On the other hand, should sellers manage to regain control, then another downward impulse towards short-term support at 3900 pts may be launched. Source: xStation5
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Deere (DE.US) stock jumped over 4.0% in premarket after the heavy equipment maker posted upbeat quarterly results and expects higher net income next year. Company said it benefited from positive farm fundamentals and increased infrastructure investment.
Deere (DE.US) stock launched today's session with a bullish price gap and is approaching all-time high at $445.70. Source: xStation5
HP Inc. (HPQ.US) stock added over 3.0% in the premarket after the computer producer posted solid quarterly results and expects to cut up to 6,000 jobs by the end of fiscal 2025, or about 12% of its global workforce, due to an extended slump in personal computer demand.
Autodesk (ADSK.US) shares plunged nearly 10.0% in premarket after the software company issued weak Q4 financial outlook, citing lower demand for multi-year, up-front contracts.
Tesla (TSLA.US) stock rose more than 2.5% before the opening bell after Citi upgraded the EV maker to neutral from sell, citing valuation.
Nordstrom (JWN.US) stock plunged nearly 8.0% in premarket after the clothing retailer recorded a 3.4% slump of its net sales in Q3 and cut its profit outlook for the fiscal year ending January 2023.
