A mostly positive trading day has just ended

Published: May 26 2023, 23:00 GMT+0

A mostly positive trading day has just ended

  • Midway through earnings season, Five Below, Inc. and 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 added 1.24% to trade at 7,319.18.

Today's trading session saw to it that markets closed higher today, as 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 climbs by 1.24%, reaching 7,319.18. Asia-Pacific markets closed higher today whilst ASX 200 is up by 0.23%, hitting 7,154.8.

Pinduoduo and Booz Allen Hamilton Holding Corporation have released their earnings reports with Five Below, Inc. and Asana, Inc. are set to publish their respective reports as scheduled.

On a negative note, the market received some disappointing news as United States Core Durable Goods Orders fell short of the 0% projections, with new data of -0.2%. Highly important Pending Home Sales data from United States beat analyst expectations of 0.5% with a reading 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.

First Republic Bank | -43.3% today including 45.91% drop in aftermarket trade

  • The regional full-service bank has recovered 1,710% since descending to a significant low of 34.2 cents around 3 days ago.

After hitting an important low of 34.2 cents approximately 3 days ago, the wealth management company has bounced back 1,710% since. So far this year, it has been under-performing the S&P by 104%. The regional full-service bank's market cap currently stands at $653.63 million with an average daily volume of 49.13 million shares. First Republic Bank expected revenue of $1.15 billion with an EPS of 85 cents.

RingCentral | Up 17.9% to $34.78 today

The US software company closed yesterday at $29.5. today, it gained 17.9% and remained around $34.78. Daily trading volume (5.75 million shares) increased, making up 225% of the 21-day average (2.56 million).