US OPEN: Wall Street opens mixed as bond yields rise again

• President Biden signed $1.9 trillion Covid-19 relief law
• US 10-Year yield jumped to 1.61%
• Ulta Beauty (ULTA.US) stock fell 8% on weaker than expected outlook

US indices launched today's session mixed as yield on the benchmark 10-Year Treasury again rose to 1.61%  before retreating slightly to 1.59% still remains close to levels not seen in over one year. Similar to previous days, quick rise in bond yields put pressure on tech stocks as investors shifted toward economically sensitive, cyclical stocks. Shares of Tesla fell more than 3% in premarket trading. Netflix, Apple, Amazon, Microsoft and Facebook were all down at least 1% in early trading. Yesterday President Biden signed the $1.9 trillion stimulus bill into law on Thursday and Treasury Secretary Yellen said Americans could start receiving payments during the weekend. On the data front, PPI figures pointed to tame inflation, in line with the CPI data from Wednesday.

US100 broke below the lower limit of the rising wedge formation and is currently approaching support at 12,755 pts which coincides with 50 SMA ( green line). If buyers will manage to halt declines there, another upward impulse towards resistance at 13,046 pts may be launched. However, should a break below the support occur, downward move may accelerate. Next support lies at 12,500 pts. Source: xStation5 

Ulta Beauty (ULTA.US) CEO Mary Dillon will resign in June and company's President David Kimbell will take his role. Meanwhile, the cosmetics retailer stock fell more than 8% despite the fact that the company posted upbeat quarterly figures, however lowered its fiscal  comparable sales outlook for this year. 

Ulta Beauty (ULTA.US) - yesterday buyers failed to break above the upper limit of the ascending channel and stock launched today's session with a bearish price gap. Price is approaching major support at $310.38 which is additionally strengthened by 50 SMA (green line). Should a break lower occur, then the next target for sellers is located around $275.03. On the other hand, if buyers will manage to halt declines, then another upward impulse toward lower limit of the channel could be launched. Source: xStation5

Novavax (NVAX.US) stock  jumped more than 16.0% in premarket after the drug maker said its Covid-19 vaccine was effective at high levels against both the original strain of the virus as well as the U.K. variant.

Netflix (NFLX.US) – Netflix is testing out a new policy with some customers, prompting certain people to sign up for a separate account if they aren’t watching with the subscriber. Research firm Magid has estimated that about one-third of Netflix users share their passwords. “This test is designed to help ensure that people using Netflix accounts are authorized to do so,” Netflix said in a statement.

Sanofi (SAN.FR) and Translate Bio (TBIO.US) started a human trial for their second Covid-19 vaccine project which is based on messenger RNA technology, following a delay in their first vaccine last year. Both drug makers expect interim study results to be available in Q3.