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Wall Street dropped on Trump's positive test but tries to pare decline later on
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Pelosi says stimulus bill is near
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US100 bounces off upward trendline
Wall Street opened lower on the final trading day of the week following news that US President Donald Trump tested positive for coronavirus. Trump will be in quarantine but media reports claim that he is showing mild symptoms and will continue to fulfill part of duties remotely from his residence. A lot of high profile US politicians took coronavirus tests following the news. So far, it is known that Vice President Pence and Treasury Secretary Mnuchin tested negative.
US100 pulled back from the resistance zone at 11,550 pts on the back of Trump's coronavirus news. However, drop was halted at the lower limit of the Overbalance structure that also coincides with upward trendline. Index remains within the triangle pattern and the first target for bulls can be found at 11,550 pts. Source: xStation5
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Create account Try a demo Download mobile app Download mobile appUS indices received a boost after the cash session started as Nancy Pelosi started to float the idea that Republicans and Democrats are getting closer to an agreement on a stimulus bill. She said that language of the deal remains an issue while other hurdles were removed.
Company News
Walmart (WMT.US) announced the sale of British supermarket chain Asda. Issa brothers, British billionaires, and private equity firm TDR Capital agreed to buy Asda for $8.8 billion. Walmart bought the supermarket chain in 1999 and paid 6.7 billion GBP for it.
Marathon Oil (MRO.US) decided to return to dividend payments after those were cancelled in May. Marathon will pay a $0.03 dividend per share on December 10.
NIO (NIO.US), Chinese manufacturer of the electric vehicles, released quarterly delivery figures today. The company delivered 4 708 vehicles in September, marking a 133.2% YoY increase, while deliveries in whole Q3 stood at 12 206 (+154.3% YoY). Results turned out to be better than expected by market and by company itself.
NIO (NIO.US) started today's trading lower but started to pare losses. Shares halted decline near yesterday's low of $20.80 and started to march higher. Stock is within a striking distance of an all-time high ($22.50 area). Source: xStation5
