US Wall Street indices started the new trading month with moderate declines, after Nasdaq (US100) recorded its worst month since 2008. Markets continue to be weighed down by mixed financial results of US blue chips, rampant inflation and the continuing cycle of interest rate hikes around the world. Investors around the world are awaiting Wednesday's FOMC decision on the US interest rate hike. It seems that the Fed's 50 bps hike is already fully priced in by the market. We are about to see the US manufacturing ISM report, which is important data in the context of Friday's NFP report.
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US100 index chart, D1 interval. The first trading session on Wall Street this month brought declines in the Nasdaq Technology Index (US100), which fell below the support at the level of 12,800 points and went down to the lowest levels since the second half of March this year. From the perspective of technical analysis, a sustained breakout below this level may encourage the supply side to deepen declines in the region of 12,300 points, where the bottom from the beginning of March is located. The nearest resistance zone is the area between, 15,500 and 15,700 points (breaking through this level could negate the emerging downward trend in the short term). Source: xStation 5
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Shares of Activision Blizzard (ATVI.US), which is one of the world's largest game developers, are gaining ahead of trading on Wall Street following a statement from Warren Buffett, chairman of Berkshire Hathaway (BRKA.US), who communicated that his company has increased its stake in the company. Berkshire currently owns about 9.5% of Activision's stock. Buffet announced that Microsoft's proposed offer to buy the company at $95 per share is likely to come to fruition. At the moment, Activision Blizzard shares are gaining more than 2.5%.
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Scoring agency Moody's (MCO.US) is losing 3,7% ahead of the U.S. stock market open as it slashed its 2022 earnings projection due to high market volatility. Results for the first quarter appeared to be in line with analysts' consensus.
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Moderna (MRNA.US) announced that a vaccine for children under the age of 6 will be ready for FDA consideration, which will lead a panel in June. Moderna will report its Q1 2022 financial results on Wednesday, May 4.
