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US equity markets open slightly higher
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Jobless claims fall to 15-month low
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Final manufacturing PMI for June at 62.1 (vs prelim: 62.6)
US equity markets started the second half of 2021 mostly on a positive note. The S&P 500 (US500) closed the second quarter 8.2% higher. Gains in the first half of the year amounted to 14.4%. Today’s jobless claims data gave stocks fuel to rally further as the number of Americans filing new claims for unemployment benefits dropped to a new pandemic low of 364K last week. However, final manufacturing PMI for June came in slightly below the flash reading (62.1 vs 62.6 according to preliminary data).
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Hazte Cliente Cuenta de Formación Descarga la app móvil Descarga la app móvilUS500 pulled back after reaching fresh all-time highs just slightly above 4,300 pts. The index experienced a steady upward move in recent days, but buyers were not able to smash through the 127.2% Fibonacci retracement of the recent downward correction. Currently the area near 4,266 pts may be seen as the first support level. Should the sentiment deteriorate even further, the 4,235 pts mark might be the next crucial barrier. Source: xStation5
Company News
Ford Motor (F.US) said it would halt production at several of its North American factories for a few weeks due to a lack of parts amid global semiconductor shortage. The company prioritises completing its customers’ vehicles that were assembled without certain parts due to the industry-wide semiconductor shortage. In April the firm said that the supply crunch would cost it $2.5 billion this year.
Walgreens (WBA.US) jumped almost 3% in pre-market trading, but later the stock plunged once the cash market opened after the company reported quarterly profit of $1.51 per share, above the consensus estimate of $1.17 per share. The drug store operator topped revenue expectations as well. The firm experienced a rebound in prescription volumes and raised its-full-year outlook.
CureVac (CVAC.US) plunged 15% in pre-market as the drugmaker said a final study analysis showed its Covid-19 vaccine was 48% effective. Earlier initial assessment showed 47% efficacy rate.
Walgreens (WBA.US) stock plunged despite solid earnings beat. Shares dropped below an important line that served as support in recent days. Should the pullback continue, the $46.50 area may be the next support level. Source: xStation5
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