- US stocks opened flat
- US industrial production growth slowed in August
- Microsoft stock (MSFT.US) plans to buy back up to $ 60 billion in shares and increase dividend
US stock markets opened mixed on Wednesday, after unexpectedly weak data from China reinforced investor bets that global growth is slowing due to COVID and supply chain constraints. Today's data from the US also showed mixed picture. The NY Fed’s Empire Index, a measure of manufacturing in the region came in at 34.3 for September, well above market expectations of the 18, while industrial production increased only 0.4% in August after moving up 0.8% in July and missing analysts' estimates of a 0.5 % advance.
US500 has been trading in a local downward channel recently, however buyers managed to halt declines around local support at 4435 pts. As long as the price sits above, another upward move towards resistance at 4475.5 pts may be launched. This level is additionally strengthened by upper limit of the channel and EMA 100 (purple line). On the other hand, break below the aforementioned support could pave the way towards the 4417,00 pts handle. Source; xStation5
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Microsoft (MSFT.US) stock rose 1.0% higher in premarket after the tech-giant announced a $ 60 billion share buyback and a higher quarterly dividend. Company will raise its quarterly payout to 62 cents per share from 56 cents.
Microsoft stock (MSFT.US) stock launched today’s session higher and broke above lower limit of the wedge formation and 50 SMA (green line). Currently stock price is approaching all-time high at $306.00. Source: xStation5
Canadian National Railway (CNI.US) is not willing to increase its offer to buy Kansas City Southern, according to people familiar with the matter who spoke to CNBC. That would clear the way for Canadian Pacific Railway (CP) to buy Kansas City Southern, after Kansas City Southern's board declared Canadian Pacific's latest offer as "superior."
Shares of casino operator Las Vegas Sands (LVS.US) were lower after Macau set a plan on Tuesday evening to revise gambling laws.
Sage Therapeutics (SAGE.US) stock jumped nearly 6% in premarket after the FDA granted fast-track status to the company’s experimental treatment for Huntington’s disease. Sage plans to begin a phase 2 trial for the treatment before the end of this year.
Citrix Systems (CTXS.US) stock rose over 4% in premarket following news of possible sale of the company, according to Bloomberg. The maker of workplace software will evaluate the interest of potential buyers over the next few weeks and will decide whether to remain independent.
