- US stock opened mixed
- US recorded record goods trade deficit
- Tesla (TSLA.US) stock climbed, as Elon Musk exercised all of his options expiring next year
US launched today's session around the flatline after the Dow Jones booked its 5th straight session of gains and the S&P hit an intraday record on Tuesday. Investors continue to assess whether the omicron variant will derail the global recovery. Recent studies showed that new variants may not be as severe as initially expected, however the number of new daily cases reached record high yesterday according to data from Worldometers. On the data front, the US goods trade deficit widened to an all-time high of USD 97.78 billion in November from a revised USD 83.2 billion in the previous month, the advance estimate showed. Wholesale inventories rose1.2% MoM to $769.9 billion in November, following a 2.5% rise in October, preliminary estimates showed.
US2000 failed to break above the 200 SMA (red line) and pulled back to major support at 2240 pts which is strengthened by 61.8% Fibonacci retracement of the upward wave launched in August 2021. Should break lower occur, downward move may accelerate towards next support at 2185 pts. Source: xStation5
Company news:
Tesla (TSLA.US) stock rose more than 1.0% in premarket after CEO Elon Musk exercised all of his options expiring next year. That signals the end of recent stock sales by Musk to cover tax bills generated by the exercise of those options.
Tesla (TSLA.US) stock bounced off the major support at $900.00 last week and price quickly managed to break above psychological $1000.00 level. However on Monday buyers failed to break above the downward trendline and price pulled back to local support at $1080.75 which is strengthened with 23.6% Fibonacci retracement of the upward wave launched at the end of May 2021. Source: xStation5
Didi Global (DIDI.US) stock dropped over 2.0% in premarket after Reuters reported the Chinese ride-hailing company will use the “listing by introduction” method to list in Hong Kong, as the company prepares to delist from NYSE. That method would issue no new shares and raise no capital.
JD.com (JD.US) ADRs fell slightly before the opening bell after the China-based online retail giant announced plans to increase its share buyback plan by 50%, now spending up to $3 billion on buying back its shares. The company also took on a $2 billion loan in order to finance its green projects and other corporate purposes.
Delta Air Lines (DAL.US) stock fell 0.7% after the airline canceled hundreds of flights yesterday due to the rising number of new Covid cases.
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