End of the rally? After three days of going up, Estee Lauder went down 1.16% yesterday closing at $273.94

Published: January 26 2023, 05:56 GMT+0

End of the rally? After three days of going up, Estee Lauder went down 1.16% yesterday closing at $273.94

Yesterday at a glance: a tough session dominated by bearish sentiment left Estee Lauder $3.22 lower, while setting a $269.76 to $275.62 session range.

United States Crude Oil Inventories fell short of the 971,000 projections, with new data of 533,000.

While price action maintains a negative bias, 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.

On the other hand, positive performances could be seen by looking at other consumer staples stocks as Philip Morris International traded at $103.42 after closing yesterday's trading day at $101.3 (up 2.09%). Anheuser-Busch was up 1.46%. Coca-Cola traded at $60.93 after closing yesterday's trading day at $60.55 (up 0.63%).

With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as as things stand, upcoming United States Core Durable Goods Orders data is projected to fall short of market expectations with newly published data of -0.2%, following on from the preceding figure of 0.1%. New data is set to be published today at 13:30 UTC.

In addition, 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, United States Core PCE Price Index (MoM) (Dec) is expected tomorrow at 13:30 UTC.

The stock has been trending positively for about a month. The well-known cosmetics company has recovered 45.9% since descending to a significant low of $189.96 around 2 months ago.

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