- Treasury yields continue to soar
- Initial jobless claims rose unexpectedly, Philly Fed index highest since 1973
- Dollar General (DG.US) earnings miss expectations
US indices launched today's session in mixed moods - Nasdaq fell nearly 1.5% and the S&P 500 lost almost 0.6% while the Dow Jones rose 0.12% as Treasury yields continue to soar. The 10-year Treasury yield jumped 11 basis points to 1.75% its highest in 14 months, while the 30-year bond is trading around the 2.50% level which puts pressure on growth stocks as they make their future returns less valuable today. Yesterday the Fed pledged not to hike interest rates until 2023 and lifted GDP growth and inflation forecasts. Fed still believes that any spike in inflation is likely to be temporary but is seems that these statments failed to calm investors nerves. Meanwhile traders digested a mixed set of economic data from the US economy. Weekly jobless claims jumped to 770k while analysts' expected a drop to 700k. Philadelphia Fed index surged to 51.8 which is the highest reading since 1973, well above market estimates of 22.0.
US500 fell from record high and is currently testing major support at 3931.6 pts. If sellers manage to break below, then downward move could be extended to the support at 3895 pts which is strengthened by 50 SMA ( green line) and 200 SMA ( red line). However if buyers will manage to regain control then another upward impulse towards 3980.8 pts may be launched. Source: xStation5
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Create account Try a demo Download mobile app Download mobile appDollar General (DG.US) stock plunged more than 6.0% in premarket after the company posted mixed quarterly figures. The discount retailer earned $2.62 per share, which came 10 cents below compared market estimates. However revenue beat expectations thanks to strong comparable-store sales.
Dollar General (DG.US) – buyers failed to break above the upper limit of the descending channel and price pulled back. Today, one can see that the upward move is being continued after the US open. Stock launched today’s session with a bearish price gap and is currently testing lower limit of the formation. Should break lower occur, downward move may accelerate towards next support at $168.23. On the other hand, if buyers will manage to halt declines, then another upward impulse towards resistance at $181.24 may be launched. Source: xStation5
Signet Jewelers (SIG.US) stock rose nearly 6% in premarket trading following better than expected quarterly figures. The jewelry retailer’s reported earnings of $4.15 per share well above analysts’ expectations of $3.54 a share. Revenue also beat market projections amid upbeat comparable-store sales.
Apple (AAPL.US) stock dropped nearly 1.5% in premarket, despite Bloomberg reporting that the company is planning to launch a new line of iPads in April.
Williams-Sonoma (WSM.US) stock soared 11.1% in premarket after reported upbeat quarterly figures. The housewares retailer posted earnings of $3.95 per share compared to market estimates of $3.39 a share. Revenue also came in above analysts’ expectations. The company also announced an 11% dividend hike and authorized a $1 billion share repurchase program.
Nikola (NKLA.US) stock fell more than 3.5% in premarket after company's South Korean stakeholder Hanwha announced plans to sell up to half its stake in the electric truck maker this year, reducing its 5.65% stake.
