A mostly positive trading day has just ended

Published: May 26 2023, 22:00 GMT+0

A mostly positive trading day has just ended

  • Midway through earnings season, Five Below, Inc. & Asana, Inc. are in line to report next
  • Today's star of the day Marvell Technology Group appreciates 32.42% while outperforming its peers
  • CAC increases to 7,319.18 (up 1.24%).

Ahead of Tuesday's session: markets had an interesting day today; Nasdaq ended the session at 12,976 after a 2.19% gain. S&P 500 closed the day at 4,205.45, having gained 1.3%.

Trading in the US will continue Tuesday in around 3 days time, meanwhile upbeat European markets ended today higher as CAC increases by 1.24%, reaching 7,319.18. Asia-Pacific markets closed higher today whilst ASX 200 added 0.23% to trade at 7,154.8.

Five Below, Inc. & Asana, Inc. due to release their earnings reports within the following week.

On a negative note, the market received some disappointing news as following a previous reading of 0.3%, Core Durable Goods Orders in United States released today at 12:30 UTC fell short of the 0% figure expected by analysts with an actual reading of -0.2%. United States Pending Home Sales fell short of the 0.5% projections, with new data of 0%.

Today's rise takes place amid mixed market indicators — United States Core PCE Price Index (MoM) (Apr) released today at 12:30 UTC with a figure of 0.4, while the previous figure was 0.3.

While most assets did well today, some did better than others as Marvell Technology Group trades at $65.51 having gained 32.42%. RingCentral (up 17.9%) is also performing well.

RingCentral retreats 79.5 cents from 2 months high

RingCentral, Inc. rallied to $35.58, hitting its highest point in 2 months; it later lost 79.5 cents and closed at $34.78. Daily trading volume (5.75 million shares) was higher than the current multiday average of 2.58 million.