Bullish mood lifts Barclays to session high of $9.15

Published: January 26 2023, 03:50 GMT+0

Bullish mood lifts Barclays to session high of $9.15

Yesterday at a glance: the British banking colossus went up to $9.15, gaining 2.35%.

On the flip side, highly important Crude Oil Inventories data from United States beat analyst expectations of 971,000 with a reading of 533,000.

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

A look at other financials stocks also showed bullish price action as Wells Fargo & Company was up 2%. HSBC Holdings traded at $37.08 after closing yesterday's trading day at $36.69 (up 1.06%).

While Barclays was bullish yesterday, the following financials stocks underperformed: HDFC Bank Limited went down 6.31%, closed at $71.44.

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.

Furthermore, the market is looking at 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%.

Also worthy of note, United States Core PCE Price Index (MoM) (Dec) scheduled to come out tomorrow at 13:30 UTC.

The stock has been trending positively for about 3 months. The British banking giant has gained 12.17% since its lowest print of $6.05 earlier this year.