Market on the eve
Trading on March 9, American stock platforms were completed in the green zone. The S & P 500 index rose by 1.42%, to 3875 points, NASDAQ rose by 3.69%, Dow Jones added 0.10%. Growth drivers made IT companies (+ 3.41%) and representatives of cyclic consumer goods (+ 3.80%). Financial (-0.86%), industrial (-0.39%) and energy (-1.91%) sector, were traded worse than the market. Supporting the previously requested sectors had a decline in Treasury Bonds to 1.53%.
Company News
TESLA shares (NASDAQ: TSLA: + 19.6%) took off against the background of the electric car manufacturers relating to the "Growth" companies.
Boeing (NYSE: BA: + 2.9%) reported on increasing the amount of orders for February for the first time since November 2019.
Del Taco Restaurants (Nasdaq: Taco: + 1.5%) demonstrated revenue in accordance with its own forecast, EPS exceeded expectations.
We expect
Today, world stock markets demonstrate a positive trend. Reducing rates on 10-year-old Trezeris up to 1.53% allowed the NASDAQ technological index to bounce after falling on the eve of a sharp increase in rates on treasury bonds. We still celebrate capital flows in the shares of "cost", however, the stock of "growth" has chances to continue recovery, subject to the preservation of high appetite to risk. A positive factor for the Chinese stock market was support from state funds.
Today, the Chamber of Representatives of the US Congress will vote on the approval of the stimulation package in a volume of $ 1.9 trillion.
News that instill optimism came from the front of the fight against the pandemic. According to the study published in the NEW England Journal of Medicine Medical Journal, Pfizer Vaccine (NYSE: PFE) / Biontech (NASDAQ: BNTX) in the laboratory caused an immune response to the Brazilian strain COVID-19. Participants in the last stage of clinical trials were found antibodies to new strains.
Asian stock platforms closed in the green zone. Chinese Shanghai Shenzhen CSI 300 grew by 0.90%, Hong Kong Hang Seng added 0.12%, Japanese Nikkei 225 rose to a symbolic 0.03%. European Euro Stoxx 50 rose by 0.4%.
Appetite for risk intensified a little. The rate of 10-year-old Trezeris decreased to 1.53% after rising to 1.60% on Tuesday. Brent oil futures drops to $ 67. Gold grows up to $ 1717.
According to our expectations, S & P 500 will hold a farewell session in the range of 3840-3900 points.
Economy News and Macrotatics
On March 10, it is worth paying attention to the publication of data on the basic consumer price index (CPI) for February. The forecast involves the growth of the indicator by 0.2% m / m after 0.1% m / m month earlier. The base index reflects the dynamics of prices for goods and services with the exception of food and energy carriers. The general consumer price index is expected to increase by 0.4% m / m after growth by 0.3% m / m in January.
Reports
Today, the American technological giant Oracle (NYSE: ORCL) will publish results for the third quarter of 2021 fiscal year. The consensus forecast lays out revenue by 2.7% y / y / g, to $ 10.07 billion in the continuation of the positive trend of the second half of the year at EPS at $ 1.11 (+ 14.4% y / y), which is higher than the top border Company targets. The positive dynamics of quarterly operating results is able to strengthen investors' trust in ORCL securities. In particular, we expect a steady increase in revenue in the cloud service segment, which was marked by the quarter earlier, will continue.
Mood index
Freedom Finance sentiment index rose to 83 out of 100, reflecting the hope of market participants to restore the global economy in 2021. Concern about the negative effects of the Pandemic COVID-19 continues to weaken due to mass vaccination and the positive dynamics of the stock market.
Technical picture
Technically S & P 500 is still in the upstream trend. The RSI indicator overcame the neutral level of 50 points. In the short term, it is likely to continue consolidation near a 50-day moving average. The nearest resistance point is the level of 3925 points.
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