US OPEN: Wall Street rebounds while investors focus on NATO summit

• US stocks opened higher
• NATO summit in Brussels
• US jobless claims lowest since 1969
• Uber (UBER.US) signs a partnership deal with NYC taxis

US indices launched today's session higher while investors focus on NATO and G7 meetings as the Ukraine crisis enters its second month and further sanctions on Russia are expected. Ukraine President Zelensky has called on NATO to provide unrestricted military aid to his country, saying this is the only way his troops can continue to fend off Russia’s invasion. Today’s data showed that jobless claims fell to the lowest level since 1969. New orders for the US manufactured durable goods dropped the most since April 2020, while flash PMI's surprised on the upside.

US2000 index pulled back after buyers again failed to break above local resistance at 2108 pts which coincides with 38.2% Fibonacci retracement of the last downward wave and upper limit of the 1:1 structure. Currently the index is approaching major support around 2035 pts, which is marked with 23.6% Fibonacci retracement. Should break lower occur, downward move may accelerate towards key support at $1900. Source: xStation5

Company news:

Uber (UBER.US) stock surged nearly 6.0% in premarket after the company plans to list all licensed New York City taxicabs on its app, the biggest such partnership deal it has made in the U.S. 

Uber (UBER.US) stock launched today's session higher and if current sentiment prevails, upward move may accelerate towards resistance at $39.95 which coincides with the upper limit of the 1:1 structure and upper boundary of the wedge formation. However, if sellers manage to regain control, nearest support lies at $32.80 which coincides with 61.8% Fibonacci retracement of the upward wave launched in March 2020. Source: xStation5

Darden Restaurants (DRI.US ) stock dropped over 1.5% in the premarket after the owner of Olive Garden and other restaurant brands posted disappointing quarterly results. Company earned $1.93 per share, well below analysts estimates of $2.10 per share. Revenue also missed market projections as the omicron variant significantly impacted guest demand, staffing levels and costs in January, but the environment subsequently improved. 

Spotify Technology (SPOT.US) stock rose 3.7% before the opening bell after it reached an agreement with Alphabet’s (GOOGL.US) Google that lets subscribers sign up for the service directly through the Google Play store.