- Senate passed $1.9 trillion COVID-19 relief bill
- Bullish comments from David Tepper, founder of Appaloosa Management
- GE (GE.US) planning $30 billion aircraft leasing deal with AerCap (AER.US)
US indices managed to erase early losses and are trading higher as markets digest concerns over rising Treasury yields and comments from David Tepper, founder of Appaloosa Management which believes that recent rapid rise in rates is set to stabilize and it’s hard to be bearish on stocks. Meanwhile, the benchmark 10-year Treasury yield fell slightly to 1.59%. US Senate passed $1.9 trillion stimulus deal. However, some amendments were added and now the bill will head back to the House (vote expected on Tuesday).
US30 bounced off the 50 SMA (green line) early in the session and managed to break above major local resistance at 31619 pts. If buyers manage to uphold momentum, then all-time high at 32035 pts may be at risk. On the other hand, if sellers will manage to regain control, then another downward impulse towards support at 31226 pts could be launched. Source: xStation5
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Create account Try a demo Download mobile app Download mobile appGeneral Electric (GE.US) stock rose more than 2 % after the company announced it is close to signing a $30 billion deal to merge its aircraft leasing business with Ireland’s AerCap (AER.US), according to The Wall Street Journal. An announcement is expected as soon as today, in what would be the latest restructuring move by GE. AerCap shares jumped more 12.0%.
GE (GE.US) stock managed to break above the major resistance at $13.50 which is additionally strengthened by 200 SMA (red line). If the current sentiment prevails upward move could be extended to the $17.16 handle or even $19.50 level. On the other hand, if sellers manage to regain control, the nearest support lies at $8.47 and coincides with 50 SMA (green line). Source: xStation5
GameStop (GME.US) stock jumped more than 11% in premarket amid more Reddit-related momentum. The video game retailer’s shares rose for three straight sessions at the end of last week.
Facebook (FB.US) - Four plaintiffs who spoke to Reuters said the investigation of racial prejudice against Facebook by the Equal Employment Opportunity Commission was designated as "systemic". Plaintiffs accuse Facebook of a hiring and promotion bias, although the EEOC has not brought any charges against the social media giant and the investigation may not lead to any findings of abuse. Facebook stock fell 1% in premarket.
Walt Disney (DIS.US) stock gained 1.5% in premarket after the company announced that it will be able to reopen Disneyland after California authorities allowed theme parks and stadiums to open at reduced capacity on April 1.
