- US indices launched today's cash trading in mixed moods
- US2000 is testing major support
- United Parcel Service (UPS.US) rises after Deutsche Bank upgrade
Three major Wall Street indices launched today's session around the flatline as upbeat sentiment observed in the morning amid speculation that China could ease some coronavirus-related restrictions started to fade. US investors still seem to digest recent hawkish comments from several FED members including Bullard, Williams, and Brainard, which warn investors that the terminal rate of Fed Funds would be higher than expected.
S&P 500 index stocks categorized by sectors and industries. Size represents market cap. Source: xStation5
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US2000 pulled back slightly on Tuesday, however buyers managed to defend key support at 1800 pts, which is marked with previous price reactions 100 EMA (purple line) and 23.6% Fibonacci retracement of the downward wave launched in November 2021. Index continues to move within triangle formation and breakout of this formation may lead to bigger price movement. Nearest resistance to watch is located at 1960 pts, while support can be found at 1790 pts. Source: xStation5
Company news:
United Parcel Service (UPS.US) shares jumped over 1.5% in premarket after Deutsche Bank upgraded its stance on the delivery giant to ‘buy’ from ‘hold’, saying all the associated macro concerns and impending labor negotiation — are now fully reflected in the stock’s price.
United Parcel Service (UPS.US) stock launched today's session higher and is approaching major resistance around $186.80, which coincides with the upper limit of the local ascending channel and 200 SMA (red line). Source: xStation5
Bilibili (BILI.US) ADR rose over 10.0% in the premarket after the Chinese video sharing website posted upbeat quarterly results, while daily and monthly active users surged by 25% over a year earlier.
Chemours (CC.US) shares plunged more than 6.0% before the opening bell after the chemical maker expects its full-year earnings k will drop below the low-end of its guidance range due to sharp decline in demand for titanium dioxide, particularly in Europe and Asia.
Generac (GNRC.US) shares dropped over 2.5% in premarket after Jefferies downgraded the company to “underperform” from “hold,” citing the potential impact of electric vehicle bidirectional charging on sales of Generac’s backup power products.
