Is it the end of the Dow Jones's rally? After three days of gains, it is down by 0.26% today

Published: January 25 2023, 19:06 GMT+0

Is it the end of the Dow Jones's rally? After three days of gains, it is down by 0.26% today

Dow Jones drops 86.93 points early on and steadies around the 33,647 level.

United States Crude Oil Inventories published today at 15:30 UTC came out at 533,000, falling short of the 971,000 projections and continuing its decline from the previous 8.41 million figure.

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. United States Cushing Crude Oil Inventories released today at 15:30 UTC with a figure of 4.27 million, while the previous figure was 3.65 million.

In the meantime, negative performances are also seen in other markets, Nasdaq is down to 11,258, losing 76.24 points, after closing at 11,334 in the preceding trading session.

Other assets are showing positive performances as KOSPI Composite Index is up 1.39%. Having closed the previous session at 21,651, Hang Seng is up 1.82% today to currently trade at around 22,045.

Looking ahead, ongoing depreciation may be prolonged as 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 tomorrow at 13:30 UTC. United States GDP expected to decline to 2.6 while its preceding data was 3.2, data will be available tomorrow at 13:30 UTC. 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.

3 months ago, the Dow fell to a low of 28,726 but has since recovered 17.44%.

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