- US stocks opened lower as Russian aggression escalates
- NFP report above expectations
- Gap (GPS.US) stock surges on upbeat quarterly results
Major Wall Street indices continue to move lower on Friday, with the Dow Jones tumbling 1.30%, while the S&P 500 and Nasdaq lost 1.25% and 1.30%, respectively after a Russian attack on Zaphorozia Power Plant, the largest nuclear power plant in Europe, led to a fire at the site. Washington called it a reckless assault that risked catastrophe. On the data front, the American economy added 678K jobs in February, well above market estimates of 400K. If current sentiment prevails Wall Street may finish the week on a sour note.
US100 fell on Thursday and broke below psychological support at 14000 pts. If current sentiment prevails downward move may accelerate towards major support at 13825 pts which is marked with previous price reactions. Source: xStation5
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Gap (GPS.US) stock jumped over 7% before the opening bell after the retailer reported better than expected quarterly results and issued upbeat earnings guidance. Gap posted narrower-than-expected a loss of 2 cents per share, compared to market estimates of 14 cents. Revenue also topped market estimates.
Gap (GPS.US) stock launched today's session with a bullish price gap and is approaching the upper limit of the triangle formation. Should a break higher occur, an upward move may accelerate towards resistance at $17.70 which is marked with upper limit for the 1:1 structure and 61.8% Fibonacci retracement of the upward wave launched in March 2021. The nearest support is located at $13.10. Source: xStation5
Costco Wholesale (COST.US) stock fell 2% in premarket despite solid quarterly results. The retailer earned $2.92 per share on revenue of $51.9 billion. Refinitiv analysts expected earnings of $2.74 on revenue of $51.47 billion.
Best Buy (BBY.US) shares dropped over 2% in premarket after Raymond James downgraded electronics retailer stock to ‘market perform’ from ‘outperform’ on valuation, citing the stock’s almost 15% gains this week.
Smith & Wesson (SWBI.US) stock plunged nearly 20.0% after the firearms manufacturer’s posted disappointing quarterly figures. CEO Mark Smith said the firearms market has “cooled significantly” from the levels seen during the pandemic, as a result sales decreased over 30%.
Disney (DIS.US) announced on Friday a new ad-supported tier for its Disney+ that will launch in the U.S. later this year, however no specific date was provided. The new ad-supported tier will expand internationally in 2023.
