• US Economy added more jobs in July than expected
• Trump signs orders banning TikTok and WeChat from operating in the US
• Uber (UBER.US) posted disappointing quarterly results
• Trump signs orders banning TikTok and WeChat from operating in the US
• Uber (UBER.US) posted disappointing quarterly results
US indices launched today's session lower despite the fact that US NFP report came in above analysts' expectations. However part of the gains were supported by an unusual jump in government payrolls. Also private sector employment and manufacturing payrolls missed expectations. Meanwhile, investors remain concerned about the rising tensions between US and China. President Donald Trump signed executive orders banning US transactions with Chinese apps Tencent's WeChat and ByteDance's Tiktok, citing national security concerns. At the same time, investors await a coronavirus stimulus package to be agreed by the White House and Democrats.
S&P500 (US500) launched session lower and is currently testing the major resistance level at 3338.6 pts. Should downbeat moods prevail, support at 3288.5 pts may come into play. However sentiment could change in case of positive news regarding the stimulus package. If that happens the resistance at 3398 pts. could be tested. Source: xStation5Booking Holdings (BKNG.US) reported quarterly loss of $10.81 per share for its latest quarter, smaller than the loss of $11.50 expected by market analysts. Company's revenue beat estimates, even as the pandemic caused a 91% drop in travel bookings from a year earlier.
TripAdvisor (TRIP.US) reported a quarterly loss of 76 cents per share, wider than the 63 cents a share loss predicted by Wall Street, while revenue came in above expectations. The company said travel demand trends have been improving since the April low.
TripAdvisor (TRIP.US) reported a quarterly loss of 76 cents per share, wider than the 63 cents a share loss predicted by Wall Street, while revenue came in above expectations. The company said travel demand trends have been improving since the April low.
T-Mobile US (TMUS.US) beat estimates by 2 cents a share, with quarterly earnings of 9 cents per share. Revenue also came above expectations. T-Mobile also said it had overtaken AT&T (T.US) as the No. 2 mobile carrier in the U.S. behind Verizon (VZ.US) after adding a greater number of subscribers than expected during the quarter.
Uber (UBER.US) reported quarterly loss of $1.02 per share which was 16 cents a share wider than Wall Street was expecting. Revenue beat market estimates. Demand for Uber’s ride-hailing service saw a halting recovery amid the Covid-19 pandemic, but business for the company’s Uber Eats food delivery service more than doubled compared to a year earlier.
Uber (UBER.US) stock is trading in local sideways move. The price bounced off the upper limit of consolidation range at $34.75 and the downward move is being continued after US open. If sellers manage to break below the lower limit of the range at $28.69 then the downward move into $25.44 is possible. However, in case of a break higher, the next resistance to watch is $38.90. Source: xStation5
