US OPEN: Wall Street pushes higher despite weak NFP report

• Disappointing data from the labour market
• US Treasury yields fall sharply
• Beyond Meat (BYND.US) stock under pressure following Q1 figures 

US indices launched today’s session in mixed moods after April’s jobs report fell short of expectations, however buyers quickly regained control and both S&P500 and Dow Jones reached new ATH’s. The US economy added 266K jobs in April, well below analysts’ estimates of 978K, and pushing the unemployment rate higher to 6.1 %. The yield on the benchmark 10-year Treasury note fell to 1.54% which boosted tech shares. So far this week, the Dow Jones is up around 2%. The S&P 500 rose 0.5% while the Nasdaq fell more than 2%.

US100 rose sharply following publication of today’s NFP report and broke above the upper limit of the wedge formation. However buyers failed to uphold momentum and index pulled back to the major support at 13711pts. Source:xStation5

Beyond Meat (BYND.US) stock plunged more than 9% in premarket after the company posted weak quarterly figures. Plant-based meat producer lost 42 cents per share, while analysts expected only 19 cents per share loss. Revenue also came in below market projections. Company said the pandemic had a negative impact on both retail and restaurant demand.

Beyond Meat (BYND.US) stock launched today’s session with a massive bearish price gap following the release of quarterly earnings report. Stock is trading below the lower limit of the descending channel and major resistance at $115.18 which previously acted as support. If the current sentiment prevails, downward move may accelerate towards the support at $87.83. Source: xStation5 

Peloton (PTON.US) stock rose nearly 6% in premarket after the company reported smaller than expected quarterly loss and upbeat revenue figures. The fitness equipment maker said it would take a current-quarter hit of $ 165 million for the recently announced recall of its treadmills. Company also reduced its sales and profit guidance for the current fiscal year ending June 30.

Roku (ROKU.US) stock jumped more than 8.0% in premarket trading after the company posted better than expected quarterly figures. Roku earned 54 cents per share, compared to Wall Street estimates of a 13 cents per share loss. Revenue came in above market expectations as well, and the maker of streaming video devices gave an upbeat forecast as homebound consumers continue to stream more content.

Shake Shack (SHAK.US) shares fell nearly 8.0% in premarket trading after the company posted mixed quarterly figures. Restaurant chain earned 4 cents per share, while analysts expected 9 cents per share loss. However, revenue figures disappointed. Company provided tepid current-quarter sales outlook as sales in city locations and sports stadiums continue to weigh on overall results.