Forex Analysis & Reviews: 05.10.2022 - Elon Musk decided to buy...

05.10.2022 02:56 PM

Elon Musk decided to buy Twitter again

US stock indices are showing a correction, which results in a sell-off of shares of key market players.

At the beginning of trading in New York, Twitter shares on the premarket fell to $ 51.95 compared to Musk's offer price of $ 54.20. The move was made after the billionaire said he was ready to return to his plans to acquire Twitter at the original price, thus seeking to avoid protracted litigation. Tesla shares fell 1.5% after Elon Musk changed his mind about Twitter. Remember that earlier, Musk tried to refuse to buy the company, but Twitter sued him to force him to make a purchase.

The Ford automaker's securities rose 1.5% after Morgan Stanley upgraded the stock's rating to "above market," citing a potential buying opportunity after the recent stock drop. General Motors shares fell 1.8% in premarket trading after the firm lowered its target valuation of the stock.

As for the banking sector itself, Morgan Stanley and Goldman Sachs – shares of two banks fell by 1.4% and 1.6%, respectively, after Atlantic Equities downgraded the rating of both companies due to a potential decline in investment banking services.

Everyone's favorite online travel platform Airbnb grew by 0.8%, outpacing the market.

Shares of cruise line companies fell after a sharp rise during trading on Tuesday, when Norwegian Cruise Line said it would waive the requirements for testing for COVID-19, wearing masks, and vaccination. The shares of this company have already fallen by 2%, while Carnival and Royal Caribbean have lost 2.3% and 1.9%, respectively.

The growth of Bionano Genomics shares was in the lead, which jumped by 11.3% after the company published a study on optical genome mapping for liver cancer research.

As for cryptocurrency stocks, Coinbase Global Inc. and Hut 8 Mining Corp. securities also fell after bitcoin declined by more than 1%.

The pressure on the market is not surprising since more Fed representatives are discussing maintaining a hawkish policy. Most recently, New York Fed President John Williams said that interest rates are not yet in place to limit inflation growth and argued that policymakers still have a lot to go through to achieve a return to the target level.

As for the technical picture of the S&P500, after yesterday's growth, demand decreased slightly, as did the index itself. Trading below $3,773 creates some difficulties for a further bullish rally. The bulls will expect a second spurt to $3,773 after strong data on the US economy, leaving hope for a further upward correction. The breakdown of $3,773 will support a new upward momentum, already aimed at the resistance of $3,801. The furthest target will be the area of $3,835. In case of a downward movement, the bulls will declare themselves in the area of $7,735. But a breakdown of this range will quickly push the trading instrument to $3,706 and $3,677 and open up the possibility of updating support and $3,648. Below this range, you can bet on a larger sell-off of the index to a minimum of $3,608, where the pressure may ease a little.

你今天已经点赞上这篇文章了

*这里的市场分析是为了增加您对市场的了解，而不是给出交易的指示。

If you have any content questions, please contact editorial-board@instaforex.com

Stock Markets

Jakub Novak,
Analytical expert of InstaForex
© 2007-2025

该作者的更多文章

电子邮件订阅

EURUSD

Euro vs US Dollar

选择时间框架

分钟

小时

天

周

开始交易

通过InstaForex赚取加密货币汇率变动的收益。

下载MetaTrader 4并开启您的第一笔交易。

推荐文章

5月30日股市：S&P 500和NASDAQ恢復下跌

美國市場：法院推翻特朗普關稅

5月29日股市：S&P 500和納斯達克暫停漲勢

應對美元飆升及科技動盪：交易者的關鍵切入點

5月28日美國股市最新情況

5月28日股市：S&P 500和NASDAQ持續迅速上漲

2025年5月28日標普500指數預測

國內需求和具吸引力的價格

2023年5月27日股市更新：S&P 500和NASDAQ仍有增長潛力

5月27日美國股市最新動態：市場勢頭增強