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Stocks extend rally on Friday
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US500 at new record highs
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US bond yields under pressure
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Tesla unveils Model S Plaid
US stock markets opened slightly higher on the final trading day of the week, with the S&P 500 (US500) climbing to fresh record highs. Meanwhile, the euphoria on the bond market continues despite higher-than-expected CPI figures for May. As investors rushed to buy bonds, the US 10-year Treasury yield plunged towards 1.43% today. Bond yields tick up slightly higher at press time. US investors still await University of Michigan data that is due at 3:00 pm BST - markets may experience some short-term volatility once the report is released. 
US100 spiked yesterday, jumping above the 13,900 pts mark. Therefore, the path towards all-time highs near 14,060 pts remains open. Reaching these levels is now certainly the goal of many traders around the world. Traders might expect higher volatility after the release of the Michigan data. In case of any declines, the 13,900 pts is the first support to watch. Source: xStation5
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Tesla (TSLA.US) unveiled its Model S Plaid - a high-end, ultra-speedy version of Tesla’s sports sedan. According to Tesla’s specifications, the $123,000 model does zero to 60 mph in under two seconds. It offers a 390-mile range, a 200-mph top speed and up to 1,020 horsepower.
Vertex Pharmaceuticals (VRTX.US) stock tumbled after the drugmaker halted development of its experimental drug. The firm said it wouldn’t pursue its drug to treat liver disease into late-stage development. Vertex claimed that the drug didn’t raise enough deficient protein in order to provide a substantial benefit.
Chewy (CHWY.US), the pet products retailer, earned 9 cents per share for its fiscal first quarter, above the consensus estimate of 3 cents per share loss. The company’s revenue also came in above expectations as the firm said that pet trends are jumping. However, Chewy warned of labour shortages and supply chain issues.
Snowflake (SNOW.US) shares fell more than 4% in pre-market after the company unveiled an ambitious long-term goal. The cloud computing company has set a target of reaching $10 billion in annual product revenue by fiscal 2029. Meanwhile, the firm generated product revenue of $554 million in its fiscal year that ended in January 2021.
Snowflake (SNOW.US) shares opened lower despite upbeat forecast presented by the firm’s executives. Taking a look at a daily chart, one might notice that the stock launched an upward impulse in mid-May, but the price was unable to break above the 38.2% Fibonacci retracement ($254.50 area) of the downward move started in December. The price returned below the 100-day moving average (orange line). Should the downward move continue, traders may soon focus on the 50-day moving average (green line) and the $225 area (23.6% retracement). Source: xStation5
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