A positive trading day has come to its end

Published: May 27 2023, 07:00 GMT+0

A positive trading day has come to its end

  • Midway through earnings season, Five Below, Inc. and Asana, Inc. are in line to report next
  • Market leader Marvell Technology Group puts in stellar performance, gaining 32.42%; currently at $65.51
  • CAC is up by 1.24%, hitting 7,319.18.

Ahead of Tuesday's session: leading equity indices in the US rose as Nasdaq ended the session at 12,976 after a 2.19% gain. S&P 500 gained 1.3% and closed at 4,205.45.

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

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

On a negative note, the market received some disappointing news as Core Durable Goods Orders in United States fell short of market expectations (0%) with a reading of -0.2%, continuing the decline from the previous figure of 0.3%. United States Pending Home Sales improved upon its previous reading of -5.2% with a new data release of 0%.

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

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

RingCentral | Up 17.9% to $34.78 yesterday

The US software company rallied 17.9% and maintained $34.78. Daily trading volume (5.75 million shares) was above the current multiday average of 2.56 million.