- President Biden unveils infrastructure plan
- ADP report below expectations
- BlackBerry (BB.US) stock plunged 6% after quarterly results
US indices launched today's session higher as investors digest White House statement related to Biden's infrastructure plan. More details regarding this matter can be found in our today's post " White House shares details of Biden's infrastructure plan". President Biden is expected to deliver a speech on the matter at 8:20 pm GMT today. Meanwhile, US 10-year Treasury yield retreated slightly from a 14-month high of 1.77% to 1.73% which removed some pressure from tech stocks and allowed Nasdaq Composite climbed 0.6%. On the data front, private businesses in the US added 517K workers in March, compared to analysts' expectations of 550K. It is the highest increase in private payrolls in 6 months.
US100 is testing the upper limit of the triangle formation. If buyers manage to break above it, then upward move towards resistance at 13046 pts which is strengthened by 200 SMA (red line) may accelerate. On the other hand, if sellers manage to halt advances here, then another downward move towards the support 12755 pts could be launched. Source: xStation5
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appBlackBerry (BB.US) stock plunged nearly 6% in premarket after the company posted disappointing quarterly results. The communications software company earned 3 cents per share which came in line with analysts' expectations, however revenue fell short of market projections due to lower demand for the company’s QNX care software.
BlackBerry (BB.US) stock has been trading in a descending channel recently. Today price is testing major support at $8.77 which is marked with previous price reactions. Should a break lower occur, then downward move may accelerate towards next support at $7.00. On the other hand, if buyers will manage to halt decline , then upward impulse towards the upper limit of the channel could be launched. Source: xStation5
Pfizer (PFE.US), BioNTech (BNTX.US ) both companies confirmed that their Covid-19 vaccine was 100% effective and well-tolerated in a trial of 12- to 15-year-olds. Pfizer intends to apply to the US regulatory authorities for approval of the vaccine for this age group in the near future.
Walgreens (WBA.US) stock rose more than 2% after the company published quarterly results. Company earned $1.40 per share well above market projections of $1.11 a share. The drugstore operator also raised its full-year guidance. Walgreens said quarterly earnings were pressured in part by weaker sales of cold and flu products.
Apple (AAPL.US) stock rose more than 1.5% in premarket after UBS upgraded the iPhone maker to ‘buy’ from ‘neutral’, saying it expected more stable long-term iPhone demand and stronger average sales prices.
