- US stocks opened lower
- NFP above expectations
- Under Armour (UAA.US) plunges on weak outlook
US indices launched today's session lower, extending yesterday's losses despite an upbeat NFP report. The Dow dropped 480 points, or 1.4%, S&P 500 lost 1.7%, while the Nasdaq Composite slid more than 2% as negative sentiment around the implications of tighter global monetary policy continues to dominate markets. The NFP report showed that the economy added 428K jobs while average hourly earnings increased slightly slower, which strengthens expectations that the Fed will continue to raise interest rates.
US2000 continues to move lower and is currently testing recent lows at 1838 pts. Should break lower occur, downward move may accelerate towards pre-pandemic highs at 1717 pts. Source: xStation5
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Under Armour (UAA.US) stock tumbled more than 25.0% in premarket after the athletic apparel maker posted an unexpected quarterly loss of 1 cent per share, while analysts expected 6 cents per share profit. Company also issued disappointing full-year guidance due to rising costs and supply chain disruptions.
Under Armour (UAA.US) stock launched today's session with a massive bearish price gap and if current sentiment prevails, downward move may accelerate towards support at $7.50 where March 2020 lows are located. Source: xStation5
DoorDash (DASH.US) stock rose 6% in premarket after the food delivery company recorded a 35% revenue increase in the latest quarter, which overshadowed wider than expected quarterly loss. Company also raised its full-year forecast for gross order value.
Zillow Group (Z.US) stock plunged nearly 14.0% before the opening bell after the real estate website operator’s revealed disappointing guidance, citing an uncertain real estate environment. Company posted upbeat profit and revenue for its latest quarter.
DraftKings (DKNG.US) stock added nearly 4.0% in premarket after the sports betting company posted solid revenue figures and upbeat financial guidance.
