- US indices launched today's cash trading lower
- US jobless claims well below market expectations
- Hawkish Powell is putting pressure on stocks
- Asana (ASAN.US) stock surges on upbeat quarterly results
US indices launched today's session lower following hawkish comments from Fed Chair Powell and ECB President Lagarde. During a speech at the Cato Institute, Powell once again emphasized that FED is willing to do whatever it takes to tame inflation, further curbing any speculation of an imminent policy pivot. Meanwhile, the ECB raised rates by 75 bps and Lagarde spoke in a similar manner regarding the need to tame price pressures while pointing to a darkening growth outlook for the eurozone. On the data front, US jobless claims decreased by 6k to 222k in the week that ended September 3rd from a downwardly revised 228k in the previous period and well below analysts’ estimates of 240k.
US100 - buyers managed to defend key support at 12000 pts and as long as index sits above this level, another upward impulse towards resistance at 13000 pts may be launched. However given the hawkish comments from Powell, a resumption of the downward move cannot be ruled out. In this case, first major support can be found around the 11500 pts area. Source: Station5
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Asana (ASAN.US) shares jumped over 20% in the premarket after the communications software company posted better than expected quarterly figures. Asana reported narrower quarterly loss of 34 cents per share on revenue of $134.9 million and current quarter guidance beat market estimates.
Asana (ASAN.US) stock launched today’s session with a massive bullish price gap and is currently trading slightly below the 50,0% Fibonacci retracement of the last upward wave. If buyers manage to uphold current momentum, the recent high at $29.45 may be at risk. However in case of a sentiment shift, nearest major support to watch lies around $21.30 and is marked by 61.8% retracement. Source: xStation5
GameStop (GME.US) stock jumped over 9.0% in premarket as news regarding partnership with crypto exchange FTX overshadowed widening quarterly loss and declining sales.
Apple (AAPL.US) stock fell 0.85% in premarket after the company unveiled the newest set of iPhones on Wednesday at its event day, and didn't raise prices as some expected. New iPhone 14 which is the main revenue driver will be available to order on September 9.
Tesla (TSLA.US) stock fell 0.5% before the opening bell despite the fact that the EV maker sold nearly 77,000 Chinese-made cars last month, nearly triple its sales from July, after increasing production at its Shanghai factory.
Moderna (MRNA.US) stock rose 2.1% after Deutsche Bank upgraded its stance on the drug maker to 'buy' from 'hold', citing strong quarterly results.
