- Fed discontinues SLR exemption
- US 10-year Treasury yield jumped to 1.72%
- Nike (NKE.US) stock falls on mixed quarterly figures
US indices launched today’s session lower after the Fed confirmed that the Supplementary Leverage Ratio relief, or SLR, for depository institutions issued on May 15, 2020, will expire as planned at the end of March. This news are negative for banks which were allowed to include deposits and Treasuries while calculating supplementary relief ratio. From April, government bonds and deposits will once again be treated as assets. Bond yields rose off their lows following the announcement. The yield on the benchmark US 10-year Treasury note hovered at 1.72% after touching 1.67% early in the session.
A potential reverse head and shoulders pattern is forming on the US100 chart. Of course, a break above the level of 13333 pts will be a confirmation. On the other hand, the nearest resistance is marked with the 38.2 Fibonacci retracement of the recent downward move from the second half of February. Source: xStation5
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appNike (NKE.US) stock fell more than 3% after the athletic footwear and apparel company posted mixed quarterly figures. Nike earned 90 cents per share while analysts expected earnings of 76 cents a share. However revenue figures and the company's full-year revenue outlook disappointed. Nike said North American revenue was hit by port-related issues which delayed shipments by up to three weeks.
Nike (NKE.US) stock has been trading in a local sideways move recently. Stock launched today’s session lower and is approaching a strong support zone around $139.25 which coincides with 200 SMA ( red line) and 50 SMA (green line). Should a break lower occur, then downward move could be extended to the lower limit of the range at $130.75. On the other hand, if buyers will manage to halt declines here then another upward impulse towards resistance at $142.85 may be launched. Source: xStation5
AstraZeneca's (AZN.US) Covid-19 vaccine received the backing of Canadian authorities which said that benefits of the vaccine outweigh risks. Also Germany, France and Italy plan to resume the AstraZeneca vaccine rollout today after EMA ruled that the vaccine is safe to use.
Hartford Financial (HIG.US) – said it is “carefully considering” a $23 billion takeover proposal from insurance company Chubb (CB.US). Yesterday financial services company stock jumped more than 18.0% following news of the offer, although it fell 1.4% in premarket trade.
Ford Motor (F.US) stock rose more than 2.0% in premarket trading after Barclays upgraded the stock to “overweight” from “equal weight,” and increased its price target on the stock to $16 per share from $9. Barclays is being encouraged, among other things, by Ford's evolving electric vehicle strategy.
