2:46 PM · 1 September 2020

US OPEN: Wall Street opens mixed ahead of ISM Manufacturing data

US30
Indices
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• Dow Jones and S&P 500 futures erase earlier gains
• Zoom Video (ZM.US) quarterly earnings well above expectations
• Walmart (WMT.US) will launch its membership program  this month
 
US indices launched today's session in mixed moods after both the Dow Jones and the S&P 500 wrapped their best August in more than 30 years, gaining more than 7% each while the Nasdaq added near 10%. Tech stocks rally continues on Tuesday, led by Apple and Tesla after stock splits that took effect yesterday and Zoom stocks hit record high after upbeat earnings. On the data front, manufacturing sector surveys from China and Europe surprised on the upside. Meanwhile traders await the ISM Manufacturing PMI data which will be released at 15:00 BST.

Dow Jones (US30) is approaching major support at 28,090 pts. In case buyers manage to push the price higher then ATH at 29 623 pts may be at risk. On the other hand, breaking below the major aforementioned support may trigger a bigger downward move. Source: xStation5
 
Zoom Video (ZM.US)  posted quarterly earnings of 92 cents per share,  well above analysts’ expectations of  45 cents a share. Revenue also bet market estimates. Company also lifted its annual revenue forecast by more than 30%, due to increasing demand for its video conferencing technology as more workers and students operate remotely.

Walmart (WMT.US) is planning to launch its membership program Walmart+ on Sept. 15  at price of $98 per year. Company wants to compete with Amazon’s (AMZN.US) popular Prime program which costs $119 per year. Walmart's service will also offer discounted gasoline. Walmart+ members will need to meet a $35 minimum online order size to receive free shipping.
Walmart (WMT.US) stock launched today’ session with a bullish price gap after the company announced that its subscription-based membership program called Walmart+ will be launched this month. Currently stock price is testing it’s ATH at $141.29 per share. However should  sellers regain control, the support at $133.69 per share may be at risk. Source: xStation5

Tesla (TSLA.US)  is planning to raise up to $5 billion through a stock offering, with banks selling shares from time to time based on the automaker’s instructions.
 
Apple (AAPL.US) – Tech giant requested suppliers to build at least 75 million 5G iPhones for a planned launch later this year, according  to Bloomberg.
 
Ford Motor (F.US) – The automaker is planning to reduce 1,000 salaried workplaces in North America in order to improve its efficiency, according to a Bloomberg. People familiar with the matter said the announcement could come this week.
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