- US stocks opened higher
- Two former workers sue Tesla (TSLA.US) for mass layoffs procedure violation
- Spirit Airlines (SAVE.US) stock surges on M&A news
Major Wall Street indices launched today's session higher as US traders returned from holiday. The Dow Jones jumped 1.6%, S&P 500 rose 2.0%, and Nasdaq 100 is trading 2.3% higher as it seems that traders decided to buy the dip after last week's massive sell-off. Nevertheless investors should be prepared for increased volatility on Wednesday and Thursday when Fed Chair Jerome Powell will testify before Congress.
US30 managed to halt recent sell-off around support at 29615 which is marked with a lower limit of the 1:1 structure and today buyers attempt to launch an upward correction. Potential target for bulls is located at 31320 pts which coincides with 23.6% Fibonacci retracement of the last downward wave. Source: xStation5
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Spirit Airlines (SAVE.US) stock surged more than 8.0% in premarket after JetBlue (JBLU.US) increased its takeover offer from $31.50 per share to $33.50 per share. Spirit should present its decision by the end of June.
Spirit Airlines (SAVE.US) stock launched today's session with a bullish price gap and is currently heading towards the upper limit of the wedge formation. Should a break higher occur, the next target for buyers is located at $28.00 which is marked with 61.8% Fibonacci retracement of the upward wave launched in May 2020. The nearest support can be found at $20.00. Source: xStation5
Tesla (TSLA.US) shares rose over 3.0% in premarket after Musk told Bloomberg the company would cut salaried staff by about 10% over the next three months, resulting in an overall reduction of about 3.5%. Meanwhile two former Tesla employees sued the company Sunday, alleging it violated U.S. federal laws regarding “mass layoffs.”
Kellogg (K.US) stock rose more than 8.0% in premarket trading after announcing plans to split into three separate public companies.
Exxon Mobil (XOM.US) stock jumped over 2.5% before the opening bell after Credit Suisse upgraded the oil giant to “outperform” from “neutral” due to investments in attractive oil and gas projects.
