- Yellen to reportedly call for global minimum corporate-tax rate
- US30 hits all-time high
- GameStop (GME.US) stock under pressure after stock offering plan
US stock index futures point to a higher opening of today's session, as investors in the US return from Easter holiday. Dow Jones futures rose more than 0.70% and reached a new record high despite the fact that Treasury yields remain elevated. The yield on the benchmark 10-year Treasury note was little changed at 1.72% on Monday, near its 14-month high of 1.78%. Recent NFP report showed the US economy added the most jobs since August 2020 and the unemployment rate fell to 6% therefore investors continue to expect a strong economic recovery. US Treasury Secretary Janet Yellen will speak later today in what's being touted as her first major speech. "We are working with G20 nations to agree to a global minimum corporate tax rate that can stop the race to the bottom," she will say according to Axios. On the data front, the ISM non-manufacturing PMI will be in the spotlight.
US30 reached a new all-time high at 33293 pts during today’s session. If the upbeat mood prevails then upward move may be extended to the upper limit of the ascending channel. However, liquidity is low today, therefore a decline towards the support level of 33,140 pts is possible. Source: xStation5
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Open real account TRY DEMO Download mobile app Download mobile appGameStop (GME.US) stock plunged 14% in premarket after the company announced that it is taking into consideration selling up to 3.5 million shares with plans to use the proceeds to strengthen its balance sheet and accelerate its ongoing transformation. The video game retailer also announced that global sales for the nine-week period ending April 4 increased by approximately 11%.
GameStop (GME.US) stock plunged more than 14% in premarket and is currently testing local support $163.00. If the current sentiment prevails then downward move could be extended to the $141.25 level. On the other hand if buyers will manage to halt declines here, then another upward impulse towards local resistance at $181.00 could be launched. Source: xStation5
Tesla (TSLA.US) stock rose nearly 8% after the company announced record delivery of 185,000 vehicles during the first quarter.
Johnson & Johnson (JNJ.US) will take over production at a facility owned by contract manufacturer Emergent Biosolutions after a quality control issue rendered a batch of Johnson Covid-19 vaccine unusable. According to the Wall Street Journal, production of AstraZeneca (AZN.US) Covid-19 vaccine will be shifted elsewhere in order to accommodate the change. Separately, J&J extended the Covid-19 vaccine trial to children 12 to 17 years of age.
Pinterest (PINS.US) is in talks to buy photo app company VSCO, according to The New York Times. The potential transaction price has not been disclosed, however, according to recent valuations, VSCO is worth approximately $ 550 million. The image-sharing website operator shares gained more than 1.5% in the premarket.
