- US stocks opened higher
- Retail sales in line with expectations
- Walmart (WMT.US) stock plunges after earnings release
US indices launched today's session sharply higher as investors digested a slew of upbeat earnings results and retail sales data, which rose more than expected despite inflationary pressures. Meanwhile industrial production came in above expectations. Now investors awaited remarks by Fed Chairman Jerome Powell.
Despite yesterday's bearish session US500 managed to stay above 3965 pts level, which is marked with lower limit of the 1:1 structure and lower boundary of descending channel. Buyers become more active today and the index gains nearly 2.0%. If current sentiment prevails, upward move may accelerate to resistance at 4180 pts Source: xStation5
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Walmart (WMT.US) stock plunged more than 7% in premarket after the biggest US retailer posted weak quarterly figures. Company earned $1.30 per share, well below analysts’ estimates of $1.12 cents as surging inflation offset the positive impact of higher sales.
Walmart (WMT.US) stock launched today's session with a massive bearish price gap and is heading towards local support at $132.50, where lows from February 2022 are located. The nearest resistance is located at $138.35 which coincides with 38.2% Fibonacci retracement of the upward wave launched in March 2020. Source: xStation5
Citigroup (C.US) stock jumped over 5.0% in the premarket after Warren Buffets Berkshire Hathaway (BRKB.US) invested nearly $3 billion in the bank during the first quarter. Berkshire’s latest 13-F filing also revealed that the company ditched nearly all of an $8.3 billion stake in Verizon (VZ.US).
Twitter (TWTR.US) shares fell nearly 3.0% before the opening bell after Elon Musk announced his $44 billion offer for the social messaging platform cannot move forward until he has clarity on bot numbers.
Tencent Music Entertainment (TME.US) stock rose 6.5% in premarket, despite the fact that technology and entertainment conglomerate reported 15% revenue decline.
Take-Two Interactive (TTWO.US) stock surged 5.0% in premarket despite weak quarterly results and lower sales forecast. However, the company's quarterly net bookings rose 8%, thanks to flagship titles like "Grand Theft Auto V" and the new "WWE 2K22". Analysts also pointed out that in the past the company provided conservative guidance , and are also expecting positive guidance once its pending acquisition of Zynga (ZNGA.US) closes.
