Bearish UPS declines $2.54 (1.41%)

Published: January 26 2023, 06:20 GMT+0

Bearish UPS declines $2.54 (1.41%)

A quick look at yesterday: the supply chain management company has recovered almost all of its session losses after dipping down to $174.93 yesterday.

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.

Amid the market gloom, 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 released yesterday at 15:30 UTC with a figure of 4.27 million, while the previous figure was 3.65 million.

United Parcel Service was not the only decliner in the industrials sector; Union Pacific slides down 1.51% yesterday to close at $203.18.

On the other hand, positive performances could be seen by looking at other industrials stocks as Lockheed Martin added 1.1% to its value, and traded at $454.16. Raytheon Technologies was up 0.54%.

Looking ahead, ongoing depreciation may be prolonged as United States Core Durable Goods Orders projected to come out at -0.2% — worse than previous data of 0.1%; data will be released today at 13:30 UTC.

Some optimism can drawn from the fact that United States Pending Home Sales is projected to outperform its last figure with -0.9%, having previously been at -4%. The figure will be published tomorrow at 15:00 UTC.

Furthermore, United States Core PCE Price Index (MoM) (Dec) is scheduled for tomorrow at 13:30 UTC.

This year has been a bright one for the supply chain manager after trading as low as $159.14 and going on to appreciate by 2.69% year to date.