- US indices launched today's cash trading lower
- Walmart (WMT.US) cut its financial outlook
- Earnings reports from Microsoft (MSFT.US), Alphabet (GOOGL.US) after market close
- General Motors (GM.US) stock under pressure following mixed quarterly results
Major Wall Street indices launched today's session lower after Walmart, which is seen as a barometer to measure consumer health and spending habits, lowered its profit expectations which only added to worries about soaring inflation. Today all eyes will turn to earnings reports from Microsoft and Google, which will be released after session close.
Recent bullish momentum lost its steam this week and US2000 continues to trade below key resistance at 1837.5 pts, which is marked with upper limit of the 1:1 structure, 100 SMA (purple line) and 23.6% Fibonacci retracement of the last downward move. As long a price sits below, another downward move towards support at 1700 pts may be launched. Source: xStation5
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appCompany news:
General Motors (GM.US) shares plunged nearly 4.0% in premarket after major US car producer posted mixed quarterly results. Earnings disappointed, however revenue topped Wall Street estimates. Company is preparing for an economic slowdown and will limit the hiring process.
General Motors (GM.US) stock plunged over 50.0% since the beginning of the year. Last week buyers launched a recovery move, however failed to break above key resistance at $34.50 which is marked with upper limit of the downward channel and 61.8% Fibonacci retracement of the upward wave started in March 2020. As long as price sits below, another downward move towards recent lows at $30.60 may be launched. Source: xStation5
Walmart (WMT.US) shares tumbled nearly 10.0% in premarket after the retail giant lowered its full-year guidance by 13% as rising prices are forcing clients to buy less-profitable products.
Coinbase (COIN.US) stock fell over 5.0% in premarket trading as the cryptocurrency exchange operator is the target of a government probe over the trading of digital assets, according to Bloomberg. Its aim is to determine whether those digital assets should have been registered as securities.
Whirlpool (WHR.US) stock added 1.0% in premarket despite home appliances producers reported a quarterly loss caused by withdrawal from the Russian market. However revenue and adjusted profit topped market estimates.
McDonald’s (MCD.US) stock rose 0.8% in premarket following upbeat quarterly sales. Burger chain recorded steady online demand, while new product launches and higher prices positively impacted its performance.
Coca-Cola (KO.US) stock rose more than 1.0% after the soft drinks giant raised its full-year financial outlook, as demand for beverages remains strong despite rising inflation.
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
