European Open: Australian GDP beats, index futures point higher
Matt Simpson March 3, 2021 5:56 AM
Europe is set for a positive open after sentiment remained buoyant overnight, whilst the dollar could face further pressure over the coming session/s. Share:
Australia’s ASX 200 index rose by 55.7 points (0.82%) to close at 6,818
Japan’s Nikkei 225 index has fallen by 135.98 points (-0.46%) and currently trades at 29,544.27
Hong Kong’s Heng Seng index has risen by 551.12 points (1.89%) and currently trades at 29,646.98
FTSE 100:
UK’s FTSE 100 futures are currently up 35 points (0.53%), the cash market is currently estimated to open at 6648.75
European futures:
Euro STOXX 50 futures are currently up 13 points (0.35%), the cash market is currently estimated to open at 3720.72
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(Reuters) - A wild rally in shares of Rocket Companies that saw the stock rise 70% in an apparent short squeeze has attracted fresh bets that the stock price will decline.
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Shares of Rocket, the parent of mortgage lender Quicken Loans, were down 31.7% to $28.43 in afternoon trading on Wednesday. The heavily-shorted stock had surged more than 70% on Tuesday in a move that analysts said was likely sparked by bearish investors unwinding bets against the stock as its share price surged.
However, the stock’s gains appear to have drawn more investors betting against Rocket’s shares.
The value of Rocket shares shorted stood at $2.04 billion as of Tuesday’s close, accounting for 45.15% of the float, according to Ihor Dusaniwsky, managing director of predictive analytics at S3 Partners.
XL Fleet s Charts Show Potential for a Future Purchase A new base pattern needs to develop before taking a long position. Stocks quotes in this article: XL
For one of his Executive Decision segments of
Mad Money Tuesday night, Jim Cramer spoke with Todd Hynes, founder and president of XL Fleet (XL) , the leader in hybrid and electric conversions for fleet vehicles.
Hynes commented on XL Fleet s new mega-charging station at the UBS Arena in New York City, which will provide an incredible 1,000 EV chargers. When completed, the station will be seven times larger than the current largest public charging facility. Hynes explained that during events, the stations will be used by arena patrons, but at night, the charging center will provide fueling for fleet vehicles. The project includes not just chargers but also power generation, storage and power management to keep the electrons flowing.
Quick update on our Boing position. Although in nice profit (+1%) we are still waiting for stronger upwards momentum. For our stop loss to move to breakeven price needs to hit $262.93. Our take profit level stands at $276.64 for a risk/reward ratio of 1:2. We are monitoring this position closely and take actions accordingly.