Honda gains 0.58% within $24 to $24.18 daily range

Published: January 26 2023, 02:41 GMT+0

Honda gains 0.58% within $24 to $24.18 daily range

A quick look at yesterday: Honda Motor Co., Ltd. spiked to $24.18 yesterday and consolidated before initiating a fresh rally to $24.09. This comes following Tuesday's session in which it closed at $23.95.

On the flip side, following a previous reading of 8.41 million, Crude Oil Inventories in United States released yesterday at 15:30 UTC fell short of the 971,000 figure expected by analysts with an actual reading of 533,000.

Meanwhile, 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 released yesterday at 15:30 UTC with a figure of 4.27 million, while the previous figure was 3.65 million.

A look at other consumer discretionary stocks also showed bullish price action as Walt Disney added 2% to its value, and traded at $108.12. McDonald's was up 1.28%. Amazon was up 0.89%.

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%. It previously stood at -4%; data will be released tomorrow at 15:00 UTC.

Also worthy of note, United States Core Durable Goods Orders projected to come out at -0.2% — worse than previous data of 0.1%; data will be released today at 13:30 UTC.

Furthermore, the market is looking at United States Core PCE Price Index (MoM) (Dec) scheduled to come out tomorrow at 13:30 UTC.

This year has been a bright one for the Japanese auto manufacturer after trading as low as $21.59 and going on to appreciate by 2.92% year to date.

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