- US stocks opened higher
- PPI inflation growth slowed down last month
- Coupa Software (COUP.US) stock plunges on weak outlook
US indices launched today's session higher as oil prices continue to move lower and US PPI reading turned out to be better than expected (however reading did not capture the impact of the Russian invasion of Ukraine), easing some concerns over mounting inflationary pressures on the economy. Still, market volatility is set to continue amid concerns over ceasefire negotiations in Ukraine and China Covid lockdowns that could wreak havoc on tech supply chains. Also traders remain cautious ahead of tomorrow’s Fed meeting. Central bank is expected to deliver a 0.25% rate hike, which would be the first increase since 2018.
US100 took a hit yesterday, nevertheless buyers managed to halt declines around major support at 13000 pts and today we can observe increased buyers activity. Index is currently testing local resistance at 13160 pts. Should a break higher occur, the next target for sellers is located at 13540 pts. Source: xStation5
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Coupa Software (COUP.US) stock tumbled nearly 30.0% before the opening bell after the business software company issued a disappointing full-year guidance, which overshadowed reported upbeat quarterly results.
Coupa Software (COUP.US) stock launched today's session with a massive bearish price gap and may currently be heading towards major support at $50.00 where lows from January 2019 are located. Source: xStation5
Delta Air Lines (DAL.US), United Airlines (UAL.US), Southwest Airlines (LUV.US) stocks jumped over 3.0% in premarket after all three major U.S. airlines raised their forecasts for current-quarter revenue, saying air travel is rebounding from the earlier slump induced by the spread of the Covid omicron variant.
Moderna (MRNA.US) stock jumped over 4.0% in premarket extending yesterday 12.00% gains following the surge in Covid cases in China’s Shenzhen region.
Alibaba (BABA.US) stock fell over 4.5% in premarket amid pandemic related concerns and the threat of a possible U.S. delisting. The Chinese e-commerce giant shares dropped more than 27% over the past nine trading sessions. Other China stocks such as JD.com (JD.US) and Bidu (BIDU.US). JD.com also took a hit.
