US OPEN: Wall Street opens lower as jobless claims rise

• Disappointing weekly jobless claims report
• US 10-year treasury yield hovers at 1-year high
• Walmart (WMT.US) Q4 earnings miss estimates

Wall Street launched today's session sharply lower after initial jobless claims rose to 861,000 last week, while analysts expected a drop to 765,000. To make it worse, the previous week's figures were revised upwards by over 50,000 to 848,000. Meanwhile both export and imports prices jumped and housing starts fell much more than expected while building permits surprised on the upside. Treasury yields, with the benchmark 10-year are trading near its highest level in a year due to inflation concerns arising from stronger economic activity and fiscal stimulus.

US100 is testing major support at 13.522 pts which is additionally strengthened by lower limit of the descending channel. In case a break below occurs, the downward move may accelerate towards 13,270 pts which coincides with 200 SMA (red line). On the other hand , if buyers will manage to regain control, then another upward impulse towards resistance at 13,742 pts could be launched. Source: xStation5

Walmart (WMT.US) stock fell 5% in premarket after the retailer posted mixed quarterly figures. Company earned $1.39 per share, which includes a 7-cent impact from UK tax repayment, while analysts' expected earnings of $1.50 per share. Revenue came in above market projections. US comparable sales excluding fuel were up 8.6% compared to Wall Street expectations of 5.8%.

Walmart (WMT.US) – buyers yesterday failed to break above the downward trendline which coincides with a neckline of potential reverse head and shoulders formation at $147.26. Stock launched today’s session sharply lower following a disappointing earnings report. If the current sentiment prevails, downward move could be extended to the $135.05 level. Source: xStation5

Tesla (TSLA.US) stock fell 2% in premarket after the company lowered prices of its basic versions of Model 3 and Model Y vehicles, although it raised prices for upper-end variants.

Hormel Foods (HRL.US) stock rose more than 2.0% premarket after earnings matched estimates at 41 cents per share and revenue came in above market expectations.  The food producer is increasingly optimistic about full-year sales and earnings growth.

Marriott (MAR.US) earned 12 cents per share in the latest quarter compared to market expectations of  11 cent per share. However revenue missed forecasts as the pandemic continues to hurt hotel chain business.

Twilio (TWLO.US) stock jumped 9.5% premarket after it posted quarterly earnings of 4 cents per share, while analysts expected 8 cents per share loss. Revenue also beat market projections. The cloud computing platform provider results were boosted by recent acquisitions and election-related business as well as what Twilio calls “broad-based diversified strength”.