- US Stocks hit fresh records
- FED Bullard "That's not a bubble, that's just normal investing."
- Palantir Technologies (PLTR.US) stock plunges after surprise quarterly loss
US indices launched today's session higher, with all 3 main stock indexes reaching new records, as investors welcomed sharp drop in coronavirus cases and reassurances about enduring support from the Federal Reserve. House Democrats are set to refocus on the $1.9 trillion stimulus plan as benefits from the last round of pandemic aid expire on March 14th. The House Budget Committee is expected to assemble all the legislatives pieces into one bill and prepare for a vote next week. Meanwhile St. Louis Federal Reserve President James Bullard played down suggestions that the Fed’s loose monetary policy was fueling an asset bubble, saying that current action in stocks as “just normal investing."
US100 pulled back after reaching fresh ATH at 13,905 pts. If the current sentiment prevails, the downward correction could be extended to the 13,771 pts handle. Source: xStation5
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Open account Try demo Download mobile app Download mobile appPalantir Technologies (PLTR.US) stock plunged 10% in pre-market after the data analytics company reported a quarterly loss even after a 40% rise in sales in its second quarterly results since going public last year. Revenue did top Street estimates on a jump in new contracts.
Palantir Technologies (PLTR.US) stock launched today’s session lower and price is currently testing upward trendline. Should a break below the trendline occur, downward move may accelerate. Next support to watch lies at $26.95. Source: xStation5
AutoNation (AN.US) stock rose nearly 2% in premarket after the company posted better than expected quarterly results. The auto retailer earned $2.43 per share while analysts expected earnings of $2.01.Revenue also beat market expectations. AutoNation announced the addition of $1 billion to its share repurchase program.
Shares of big banks including Morgan Stanley (MS.US), Goldman Sachs (GS.US) and JP Morgan Chase (JPM.US) climbed more than 1.0% in the premarket as the whole banking sector is benefiting from the fact that yields on 10-year U.S. Treasuries touched their highest levels since late March.
Constellation Brands (STZ.US) received a lawsuit from Beer brewer AB InBev (BUD.US) over its use of the Corona brand name for its hard seltzer. AB InBev contends that a 2013 deal between the two involving the brand name did not allow Constellation to use it for products other than beer.
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