US OPEN: Wall Street higher ahead of FED speakers

• US indices launched today's session higher
• US30 below major support
• Speeches from Fed members
• Coupa Software (COUP.US) stock surges on upbeat earnings and guidance

US indices launched today's session higher while bond yields continued to rise as markets await several speeches from Fed policymakers and the release of the Fed's Beige Book for new clues on the central bank's policy outlook. Earlier Wall Street Journal article suggested that Fed Chair Powell is committed to reducing inflation, which could mean that the central bank may raise rates by 0.75 bp this month.

US30 broke below the local support at 31300 pts, which coincides with 23.6% Fibonacci retracement of the last downward correction. If current sentiment prevails, next support to watch can be found around 30370 pts, which is marked with the lower limit of the 1:1 structure. On the other hand, if buyers manage to push the index above the aforementioned 31300 pts level, then another upward move towards resistance at 32360 pts may be launched. Source: xStation5

Company news:

Coupa Software (COUP.US) stock price jumped over 11.0% in premarket after the business management software company surpassed earnings estimates in its recent quarter, and issued a solid full-year financial outlook. Company earned 20 cents per share, easily beating analysts’ estimates of 9 cents per share, according to Refinitiv.

Coupa Software (COUP.US) stock fell over 85.0% from its February 2021 highs and found support around $51.90. As long as price sits above this level, upward impulse towards local resistance at $78.00 may be launched. Source: xStation5

Pinterest (PINS.US) stock rose over 4.0% in premarket after Wolfe Research upgraded the social media stock to outperform, as it believes that  the company is able to execute on long-term user and monetization goals under its new CEO.

Nio (NIO.US) dropped nearly 6.0% before the opening bell after the Chinese electric vehicle producer posted a wider loss in the second quarter despite an increase in shipments.

Apple (AAPL.US) stock rose slightly in premarket ahead of the company's 'Fall Out' fall event, which is expected to see the unveiling of the new iPhone 14.