Analytics, News, and Forecasts for CFD Markets: stock news — 06-04-2021.

U.S. stock-index futures fell slightly on Tuesday after the Dow Jones and the S&P 500 both closed at record highs on Monday as strong employment and non-manufacturing PMI data for March added to optimism about a swift economic recovery in the U.S. amid accelerating vaccinations and massive stimulus.

Global Stocks:

(company / ticker / price / change ($/%) / volume)

Alphabet (GOOG/L) initiated with an Outperform at Evercore ISI; target $2525

Yandex N.V. (YNDX) initiated with a Buy at New Street; target $81

McDonald's (MCD) initiated with a Neutral at Atlantic Equities; target $237

Amazon (AMZN) resumed with an Outperform at Evercore ISI; target $4000

Facebook (FB) resumed with an Outperform at Evercore ISI; target $370

Lyft (LYFT) resumed with an Outperform at Evercore ISI; target $73

Netflix (NFLX) resumed with an Outperform at Evercore ISI; target $665

Twitter (TWTR) resumed with an In-line at Evercore ISI; target $75

Uber (UBER) resumed with an Outperform at Evercore ISI; target $74

Chevron (CVX) downgraded to Neutral from Buy at Goldman; target lowered to $113

Credit Suisse (CS) downgraded to Underperform from Neutral at BofA Securities

Credit Suisse (CS) downgraded to Hold from Buy at Societe Generale

Freeport-McMoRan (FCX) upgraded to Outperform from Mkt Perform at Raymond James; target $41

Snap (SNAP) upgraded to Overweight from Neutral at Atlantic Equities; target $75

FXStreet notes that S&P 500 has started Q2 strongly and although the rally is now leaving the market in “typical” extreme territory, and analysts at Credit Suisse see scope for the rally to extend further yet and look for a move to 4104/09 next and eventually to the at 4200 level. 

“Although the rally is beginning to now leave the market at what we see as its ‘typical’ extreme – 15% above the 200-day average and also above daily, weekly and monthly Bollinger Bands – RSI momentum is only starting to get overbought and we see scope for the rally to extend further yet.” 

“A knee-jerk pullback should be allowed for ahead of further strength to 4100, then what we look to be a tougher test at 4104/09 – trend resistance from last November as well as Fibonacci projection resistance. We would look for this to cap at first for a pullback, but with a move above expected in due course for 4138 and eventually our 4200 Q2 objective.”