Equities traders zero in on the S&P 500 as it sheds 8.81 points (-0.22%)

Published: January 25 2023, 19:15 GMT+0

Equities traders zero in on the S&P 500 as it sheds 8.81 points (-0.22%)

S&P 500 is range-bound between 3,949 and 4,009 today after shedding 8.81 points and closing at 4,017 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.

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

In the meantime, negative performances are also seen in other markets, Nasdaq is down 54.04 points from the beginning of the session and now trades around 11,280.

Other assets are showing positive performances as KOSPI Composite Index increases 1.39% to trade around 2,428.57. Hang Seng is up 1.82%.

Looking ahead, ongoing depreciation may be prolonged as tomorrow 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%. Tomorrow at 13:30 UTC data for United States GDP will be released, with an expected decline to 2.6 from the preceding figure of 3.2. United States Initial Jobless Claims expected to decline to 205,000 while its preceding data was 190,000, data will be available tomorrow at 13:30 UTC.

This year has been a bright one for the S&P 500 after trading as low as 3,577 and going on to appreciate by 5.04% year to date.

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