- Coronavirus death toll in U.S. surpasses 250,000
- US jobless claims above expectations
- Macy’s (M.US) stock falls as sales drop over 20%
US indices launched today's session lower as concerns of additional lockdowns outweigh positive COVID-19 vaccine news.
Yesterday US reported more than 173 768 new infections, which is the second-highest level since pandemic began. Death toll from COVID-19 surpassed 250k on Wednesday. Also hospitalizations reached record number of 79 410. New York City's public school system, the nation's largest, called a halt to in-classroom instruction. Also Kentucky, Minnesota and Wisconsin all decided to impose new restrictions. Meanwhile the University of Oxford confirmed that the Covid-19 vaccine it's developing with AstraZeneca Plc produced strong immune responses in older adults in an early tests. Scientists are expecting to release late-stage trial results by Christmas. On the data front, US jobless claims increase to 742k as pandemic worsens. Today's reading came in above market expectations of 707k. Investors remain concerned that surging number of new COVID-19 infections and further restrictions introduced in many states may negatively affect the labour market in the coming weeks. The Philadelphia Fed Manufacturing Index dropped to 26.3 in November of 2020 from 32.3 last month. Today's reading came in above analysts' forecasts of 22.
Yesterday US reported more than 173 768 new infections, which is the second-highest level since pandemic began. Death toll from COVID-19 surpassed 250k on Wednesday. Also hospitalizations reached record number of 79 410. New York City's public school system, the nation's largest, called a halt to in-classroom instruction. Also Kentucky, Minnesota and Wisconsin all decided to impose new restrictions. Meanwhile the University of Oxford confirmed that the Covid-19 vaccine it's developing with AstraZeneca Plc produced strong immune responses in older adults in an early tests. Scientists are expecting to release late-stage trial results by Christmas. On the data front, US jobless claims increase to 742k as pandemic worsens. Today's reading came in above market expectations of 707k. Investors remain concerned that surging number of new COVID-19 infections and further restrictions introduced in many states may negatively affect the labour market in the coming weeks. The Philadelphia Fed Manufacturing Index dropped to 26.3 in November of 2020 from 32.3 last month. Today's reading came in above analysts' forecasts of 22.
US500 – index broke below the major support at 3588.1 pts during yesterday’s session and the downward move is being continued after US open. If the current sentiment prevails then next support at 3510 pts may be at risk. Source: xStation5
Macy’s (M.US) stock fell over 5 % in premarket after company reported loss of 19 cents per share for its latest quarter, smaller than the 79 cents a share loss that analysts' were expecting. Revenue came in above estimates. Net sales fell to $3.99 billion from $5.17 billion in the third quarter, beating analysts' estimates of $3.86 billion.
Macy’s (M.US) stock soared on Tuesday after positive vaccine news. However upward momentum faded away after company posted mixed quarterly results. Stock launched today’s session lower and is heading towards local support at $8.15. If buyers will manage to halt declines there, then another upward impulse towards $10.47 could be launched. Source: xStation5Nasdaq (NDAQ.US) will acquire Verafin, which is a provider of technology designed to detect and fight financial crimes, for $2.75 billion in cash. The exchange operator shares fell 3% in premarket trading.
Nvidia (NVDA.US) – reported quarterly earnings of $2.91 per share, beating analysts’ expectations of $2.57 a share. Revenue also topped market estimates, however company's stock fell slightly after announcement that data center chip revenue would fall slightly during the current quarter.
Coca-Cola (KO.US) placed too much of its profit in its foreign operations instead of its higher-taxed domestic parent company, a U.S. Tax Court judge ruled Wednesday. The IRS has been seeking more than $3.3 billion in taxes for the years 2007 through 2009, although the ruling does not yet set an actual amount that Coca-Cola may owe. Company still claims that the IRS claims are without merit.
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