Airbnb gains 0.3% within $99.84 to $104.67 daily range

Published: January 26 2023, 04:40 GMT+0

Airbnb gains 0.3% within $99.84 to $104.67 daily range

Yesterday at a glance: Airbnb, Inc. went up to $104.44 yesterday after ending Tuesday at $104.13. Overall, a 0.3% move or 31 cents.

Nevertheless, Crude Oil Inventories in United States fell short of market expectations (971,000) with a reading of 533,000, continuing the decline from the previous figure of 8.41 million.

Meanwhile, United States 5-Year Note Auction released yesterday at 18:00 UTC with a figure of 3.53, while the previous figure was 3.973. United States Cushing Crude Oil Inventories came out at 4.27 million.

This rally in Airbnb's share price coincided with other communication services stocks as AT&T was up 6.58%. T-Mobile traded at $148.07 after closing yesterday's trading day at $145.81 (up 1.55%).

While Airbnb was bullish yesterday, the following communication services stocks underperformed: Alphabet closed at $96.73 (down 2.5%).

Yesterday's gains have given market bulls further impetus to expect strong macro data going forward, such as United States Pending Home Sales is projected to outperform its last figure with -0.9%. It previously stood at -4%; data will be released tomorrow at 15:00 UTC.

Also worthy of note, today at 13:30 UTC data for United States Core Durable Goods Orders will be released, with an expected decline to -0.2% from the preceding figure of 0.1%.

Furthermore, the market is looking at United States Core PCE Price Index (MoM) (Dec) scheduled to come out tomorrow at 13:30 UTC.

The vacation rental platform has gained 22.65% since its lowest print of $82.49 earlier this year.