- US stocks start session mostly lower
- Goldman Sachs downgraded US growth outlook
- Boeing (BA.US) suffered an orders blow
US indices launched today’s session mostly lower, amid ongoing concerns regarding the spread of the coronavirus delta variant and economic slowdown. Moreover, the chances of introducing tapering this year also faded away after the recent disappointing NFP report. Goldman Sachs downgraded its economic outlook over the weekend and the bank now sees 5.7% annual growth in 2021, below the 6.2% consensus. The firm cut its fourth-quarter GDP outlook to 5.5%, down from 6.5%. This week investors will focus on jobless claims data on Thursday and producer prices on Friday for a further update on the American economic recovery.
US500 retreated from a fresh record high at 4550 pts and is currently testing an upward trendline and EMA 100 (purple line). Should break lower occur, downward correction may deepen towards support at $4516 pts which coincides with 200 SMA ( red line). Source: xStation5
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Create account Try a demo Download mobile app Download mobile appBoeing (BA.US) stock fell 1% in premarket after the aircraft producer suffered an orders blow. Ryanair, one of Boeing largest customers, said it ended talks to purchase 737 MAX 10 jets due to differences over price.
Boeing (BA.US) stock launched today’s session lower and price is currently testing the lower limit of the triangle formation. If current sentiment prevails, then downward move may accelerate towards support at $205.00. On the other hand, only break above the 23.8 Fibonacci retracement of the downward wave which started in June will negate the bearish scenario. Source: xStation5
JD.com (JD.US) stock rose over 1.0% in premarket after news that founder and chief executive Richard Liu will step down while Xu Lei, previously CEO of JD Retail, will take the president role and fulfill those duties.
Moderna (MRNA.US) shares fell 1% in premarket after White House chief medical advisor Dr. Anthony Fauci said the rollout of Moderna’s Covid-19 vaccine booster shots in the U.S. could be delayed while Pfizer’s booster shots will likely be ready by Sept. 20
AMC Entertainment (AMC.US) stock added over 2.0% in premarket after Marvel’s ‘Shang-Chi and the Legend of the Ten Rings’ movie earned approximately $90 million on its debut weekend in North America, a record for a Labor Day weekend debut and a boost for the cinema chain.
