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Global stocks climb higher
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Vaccine news in the spotlight
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Tesla’s (TSLA.US) price target raised to $3,500 at Wedbush
On Monday bulls have dominated global stock markets and upbeat moods are to be seen around the globe. While European equities climb roughly 2% higher, U.S equity futures rallied to a one-week high. Stock markets are supported by reports that Trump administration might fast-track vaccines and treatments for coronavirus. According to Financial Times report America is focused on coronavirus vaccine developed in the U.K. by AstraZeneca and Oxford University, yet the company told that it has not discussed any emergency use authorisation with the U.S. government.
All Major U.S. indices opened higher today. At press time small caps are accelerating gains with Russell 2000 rising almost 1.00%. S&P 500 is adding roughly 0.60% while Dow Jones is trading 0.75% higher.
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Nasdaq (US100) climbed to fresh all-time highs today. Even though market bulls still maintain dominant position, investors ought to stay alert should any supply signal occur. Right now 11,430 pts level seems to be crucial barrier in case of a downward correction. Apart from that one should also keep track of 50-hour moving average (purple line) as it might serve as a support level as well. Source: xStation5
Moderna (MRNA.US) said that it has enrolled over 13,000 participants of a 30,000-volunteer US trial testing of its COVID-19 vaccine. The firm expects to complete enrollment in September.
Tesla’s (TSLA.US) price target was raised to $3,500 from $2,500 at Wedbush Securities. Analyst Daniel Ives cited continued signs of accelerating demand in China and battery potential.
Tesla (TSLA.US) stock in still trading in a strong upward trend. After smashing through $2,000 barrier, market bears seem to be totally “defeated”. The potential correction might occur anytime. The nearest support level could be found at $1,790 level. Source: xStation5
American Airlines (AAL.US) will reportedly be allowed to use a new surface coating that kills coronavirus. According to Reuters, the coating inactivates viruses and is effective for up to seven days.
Delta Airlines (DAL.US) plans to resume 50 flights on international routes this winter and in 2021, a spokesman said Friday. These routes were previously affected by the COVID-19 pandemic.
