US OPEN: Wall Street mixed ahead of PMI data

• US indices launched today's cash trading in mixed moods
• Twitter (TWTR.US) Q2 revenue below estimates
• Verizon (VZ.US) stock plunges amid slower subscriber growth

US indices launched today’s session mized, Dow Jones and S&P500 rose 0.45% and 0.085 respectively, while Nasdaq fell nearly 0.50% following weak quarterly results of big tech companies such as Twitter and Snap. Now investors’ attention will focus on PMI reports (2:45 pm BST), which should provide more details on the health of the US economy. On the week, the three main Wall Street indexes are on track to book strong gains, with the Dow up by over 2% so far, the S&P 500 almost 4% and the Nasdaq nearly 5%.

US30 - this week buyers managed to break above major resistance at 31320 pts, which coincides with 23.6% Fibonacci retracement of the last downward wave and now acts as nearest support. Should buyers manage to uphold current momentum, upward impulse may accelerate towards next resistance at 32410 pts. Source: xStation5

Company news:

Verizon (VZ.US) stock dropped  4.5% after the telecom company posted weak quarterly figures and lowered its annual adjusted revenue guidance due to slowing phone subscriber growth, a sign that surging inflation is starting to affect its business.

Verizon (VZ.US) stock launched today's session with a bearish price gap, extending recent losses. Price is approaching recent lows at $45.60, Should break lower occur, downward move may accelerate towards $43.00, where lows from July 2017 are located. The nearest resistance to watch  lies at $47.20. Source: xStation5

American Express (AXP.US) shares jumped more than 4.0% in the premarket after the payment company posted better than expected quarterly results. Card holders registered record spending, driven by a rebound in travel and entertainment.

Snap (SNAP.US) stock plunged over 30.0% in the premarket after the Snapchat parent posted a wider-than-expected quarterly loss and its slowest sales growth since IPO.

Twitter (TWTR.US) stock fall nearly 2.0% in premarket after the tech giant posted a surprise fall in revenue amid fierce competition in a weakening advertising market. Company partially blamed the revenue miss to “uncertainty” tied to the pending acquisition of the company by Elon Musk.