- GameStop (GME.US) shares surge again as trading frenzy returns
- US jobless claims fall to 3-month low. Durable goods well above forecast
- Wayfair (W.US) stock rose despite week quarterly revenue
US indices launched today's session mixed as rising bond yields overshadowed better than expected economic data. Bond yields continue to rise despite Fed Chair dovish comments during his semi-annual report to Congress. Weekly jobless claims fell to a 3-month low of 730K, GDP growth for Q4 was revised higher to 4.1% and durable goods orders rose the most in 6 months. Meanwhile meme stock madness returned at the end of yesterday's US session. Shares of Gamestop, AMC and other Reddit favorites rose sharply and today the upward move is being continued after the US open.
US500 launched today’s session lower and is approaching major support at 3895 pts which coincides with 50 SMA ( green line) and upper limit of the downward channel. Should a break below occurs, downward move could accelerate towards next support at 3850 pts. On the other hand, if buyers manage to halt declines there, then another upward impulse toward all-time high at 3960 pts could be launched. Source: xStation5
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Create account Try a demo Download mobile app Download mobile appGameStop (GME.US) stock surged 55.8% premarket as heavily-shorted stocks favored by Reddit traders look set for a resurgence. On Wednesday stock soared more than 100.0% after the reported ousting of Chief Financial Officer Jim Bell. Other so-called “Reddit stocks” like BlackBerry (BB.US) and AMC Entertainment (AMC.US) rose 4.3% and 12.9% respectively.
Wayfair (W.US) stock rose 5% in premarket after the furniture and home goods seller posted mixed quarterly figures. Company earned $1.24 per share well above market expectations of 86 cents a share. However revenue came in slightly below analysts’ estimates forecasts.
Wayfair (W.US) stock launched today’s session higher and broke above 200 SMA (red line). However as long as the price sits below the downward trendline, further declines are the base case scenario. Only break above resistance $297.75 may lead to a bigger upward move. Source: xStation5
Best Buy (BBY.US) stock fell more than 5.0% in premarket after the electronics retailer’s posted mixed quarterly figures. Earnings of $3.48 per share beat estimates by 3 cents a share, however both revenue and comparable-store sales missed analysts' expectations as demand for electronics declined in the final quarter of 2020.
Norwegian Cruise Line (NCLH.US) stock rose nearly 2.0% premarket after quarterly revenue came in well above estimates, despite the Covid-19 related shutdown of cruises. The cruise line operator’s loss of $2.33 per share for its latest quarter came inabove analysts’ expectations of a $2.17 per share loss.
