Garmin closes at $98.62 after gaining 0.47%

Published: January 26 2023, 05:00 GMT+0

Garmin closes at $98.62 after gaining 0.47%

A quick look at yesterday: after dipping down to $96.63, Garmin Ltd regained earlier losses and reaches $98.62.

Nevertheless, data from United States concerning Crude Oil Inventories was released yesterday at 15:30 UTC. Newly published figures emphasized continued decline from last month's figure of 8.41 million to 533,000 this month.

At the same time, 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.

A look at other technology stocks also showed bullish price action as ASML Holding gained 1.72%, as it traded at $681.53.

While Garmin was bullish yesterday, the following technology stocks underperformed: TSM went down 2.27%, closed at $94.56. Texas Instruments withdraws 1.13% yesterday to close at $177.04.

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%, having previously been at -4%. The figure will be published tomorrow at 15:00 UTC.

Furthermore, the market is looking at 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.

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. After hitting an important low of $78.47 approximately 3 months ago, the GPS device maker has bounced back 25.09% since.