- Weekly jobless claims rise unexpectedly
- US GDP growth confirmed at record 33.1%
- HP Inc. (HPQ.US) stock rose over 5% on upbeat quarterly figures
US indices launched today’s session in mixed moods as optimism over COVID-19 vaccine started to fade while fresh economic data painted a mixed picture. President-elect Joe Biden announced his security and foreign policy team on Tuesday. Meanwhile US reported over 175K new coronavirus cases yesterday and hospitalizations reached new record high of 88 080. On the data front, initial jobless claims rose for the second week to 778K, above market estimates of 730K which added to signs that the labor market recovery is stalling. GDP growth was confirmed at a record 33.1% in Q3 and durable goods orders beat analysts' forecasts. Investors will keep an eye on FOMC minutes which will be released at 7:00 pm GMT.
US30 managed to break above 30000 pts handle and painted new all-time highs. However upward move turned out to be short lived and index pulled back. Also the momentum indicator still shows that the upward momentum is decreasing. If sellers will manage to regain full control, then nearest support lies at 29557 pts. Source: xStation5HP Inc. (HPQ.US) –stock jumped 5.7% in premarket on positive quarterly earnings report. Company's quarterly earnings of 62 cents per share topped market expectations by 10 cents a share. Revenue also beat Wall Street forecasts. The computer and printer maker recorder a surge in laptop sales driven by homebound students and workers which compensated for lower sales of office equipment.
HP Inc. (HPQ.US) launched today’s session with a bullish price gap and is currently testing local resistance level at $23.00. If the current sentiment prevails, the upward move could be extended to the $25.80 handle. However if sellers will manage to halt declines, then nearest support at $21.90 could be at risk. Source: xStation5Gap (GPS.US) stock fell 10% in the premarket after company posted its quarterly figures. Company earned 25 cents per share, missing consensus estimates by 7 cents a share. Revenue came in above market expectations. However, the company's results suffered from higher marketing and shipping costs resulting from a shift to online shopping by consumers. The apparel retailer’s online sales jumped 61% during the quarter compared to the same period year ago.
Deere (DE.US) stock rose 1.8% in premarket trading after the company posted upbeat quarterly results. The heavy equipment maker earned $2.39 per share, well above market expectations of $1.49 a share. Revenue also topped analysts’ forecasts. Company benefited from an improving farm economy, rising crop prices and higher demand for replacement machines. Deere also provided positive earnings guidance for the next fiscal year.
Dell (DELL.US) reported quarterly earnings of $2.03 per share for its, well above analysts' expectations of $1.40 a share. Revenue also came in above market estimates thanks to higher demand for Dell’s desktop and laptop computers.
Pfizer (PFE.US) – The government plans to send 6.4 million doses of Pfizer’s Covid-19 vaccine to communities across the US within 24 hours of Food and Drug Administration approval, according to government officials who spoke to the Washington Post.
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