US OPEN: Wall Street opens higher after hot inflation data

• US stocks opened higher
• PCE Consumer prices rise the most since 1982
• Novavax (NVAX.US) stock rises following vaccine news

US indices launched today's session higher, extending gains for the third session as concerns regarding omicron eased after studies from the United Kingdom showed that risk of hospitalization due to the new variant is lower than in case of Delta strain. Also South African study confirmed that the omicron variant is less severe than previous strains, albeit more infectious. On the data front, US consumer spending rose for the 6th straight month but slowed from October while the annual PCE inflation rose to 5.7%, the highest in 39 years.

US100 stock rose sharply this week and is currently testing the upper limit of the descending channel which coincides with 200 SMA (red line). Should break higher occur, upward impulse may accelerate towards resistance at 16470 pts. On the other hand, if bullish momentum fades away, then another downward move towards support at 16077 pts may be launched. Source: xStation5

Company news:

Novavax (NVAX.US) stock rose more than 3.0% after the drugmaker announced its two-dose Covid-19 vaccine demonstrated “strong immune responses” against Omicron and other Covid variants.

Novavax (NVAX.US) stock launched today’s session higher and is approaching resistance at $207.40 which coincides with 23.6% Fibonacci retracement of the upward wave launched in February 2020. Should a break higher occur, upward move may accelerate toward the lower limit of the triangle formation. On the other hand, if sellers manage to regain control then support at$167.70 may be at risk. Source: xStation5

Pfizer (PFE.US) stock rose nearly 1% in premarket after the FDA granted emergency authorization to its Covid treatment pill, which is a major milestone that promises to revolutionize the fight against the virus.

Nikola (NKLA.US) stock rose nearly 4.0% in the premarket after the electric truck maker confirmed it had completed delivery of its first electric vehicle and that more were on the way.

Stitch Fix (SFIX.US) stock rose over 2.0% in the premarket after shareholder Working Capital Advisors disclosed the purchase of 3.4 million shares in the online clothing styling company, bringing its total holdings to 10.6 million shares.