Ford closed at $12.09 after making its largest single-day jump

Published: May 27 2023, 03:26 GMT+0

Ford closed at $12.09 after making its largest single-day jump

The US auto giant closes its best day in 4 months, jumping by 6.24% (71 cents) to $12.09.

Ford Motors's uptick comes amid disappointing United States macroeconomic data released during the session – United States Core Durable Goods Orders published yesterday at 12:30 UTC came out at -0.2%, falling short of the 0% projections and continuing its decline from the previous 0.3% figure.

At the same time, United States Core PCE Price Index (MoM) (Apr) came out at 0.4, while a consensus of analysts was expecting 0.3. United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 193,100, while the previous figure was 191,500.

A look at other consumer discretionary stocks also showed bullish price action as Amazon gained 4.44%, as it traded at $120.11. Tesla was up 4.72%. Lowe's added 2.73% to its value, and traded at $206.52.

The US automaker is now trading 30.74% below the significant high of $16.43 it set around 9 months ago.