- US stocks open higher after the Senate reached a government funding deal
- Mixed macroeconomic data from the US
- Virgin Galactic (SPCE.US) shares surge after FAA concluded its investigation
US indices launched session slightly higher on the last trading day of the third quarter helped by Treasury yields slipping off highs to1.53%, while investors focused on funding negotiations in Washington to prevent a government shutdown. Senate Majority Leader Chuck Schumer said yesterday an agreement has been reached to extend government spending until December 3rd. On the data front, initial claims unexpectedly rose for the 3rd week, Chicago PMI reading slightly disappointed, while a report from the Commerce Department revised second-quarter growth to be slightly higher.
US30 fell sharply after the start of the US session and is testing the lower limit of the triangle formation which coincides with 50 SMA (green line). Should break lower occur, then downward move may accelerate towards support at 33500 pts. Source: xStation5
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Virgin Galactic (SPCE.US) stock jumped nearly 9% in premarket after the FAA concluded a probe of a July 11th flight mishap and allowed the company to resume launches. The investigation determined that the July flight had deviated from its assigned path and that Virgin had not communicated the deviation to the FAA as required.
Virgin Galactic (SPCE.US) stock launched today’s session with a bullish price gap and is currently testing the upper limit of the triangle formation. Should a break higher occur, then upward move may accelerate towards resistance at $29.00, which is marked with previous price reactions. On the other hand, if sellers will manage to halt advances, then another downward move towards support at 22.75 may be launched. Source: xStation5
McCormick (MKC.US) stock fell more than 4% in premarket despite the spice maker posting better than expected quarterly results. Company earned 80 cents per share, while analysts' expected earnings of 72 cents per share. Revenue slightly topped market projections. However, the company lowered its full-year guidance due to rising inflation and logistics challenges.
Herman Miller (MLHR.US) stock fell more than 2% in premarket after company earnings fell a penny shy of analyst' expectations of 49 cents per share. However the office furniture maker’s revenue beat market forecasts. Company also announced upbeat earnings guidance for the current quarter.
Perrigo (PRGO.US) jumped over 14.0% in premarket after the pharmaceutical company settled a tax dispute with Ireland for about $399 million, with no interest or penalties applied.
CarMax (KMX.US) plunged over 7% after used vehicle retailer reported mixed second-quarter earnings.
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