GM levels up 0.33% in today's session; traders eye opening bell in 16 hours time

Published: January 25 2023, 22:25 GMT+0

GM levels up 0.33% in today's session; traders eye opening bell in 16 hours time

A quick look at today: General Motors Co recovered all the way back up to $36.32 after dipping down to $35.38.

On the flip side, 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.

At the same time, 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. United States Cushing Crude Oil Inventories came out at 4.27 million.

This rally in GM's share price coincided with other consumer discretionary stocks as Walt Disney added 2% to its value, and traded at $108.12. McDonald's gained 1.28%, as it traded at $273. Amazon was up 0.89%.

Furthermore, the market is looking at United States Core Durable Goods Orders projected to come out at -0.2% — worse than previous data of 0.1%; data will be released tomorrow at 13:30 UTC. As things stand, upcoming United States GDP data is projected to fall short of market expectations with newly published data of 2.6, following on from the preceding figure of 3.2. New data is set to be published tomorrow at 13:30 UTC. Tomorrow at 13:30 UTC data for United States Initial Jobless Claims will be released, with an expected decline to 205,000 from the preceding figure of 190,000.

This year has been a bright one for the US car giant after trading as low as $30.87 and going on to appreciate by 7.04% year to date.

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