Lethargic the S&P 500 fails to breach tight 3,949 – 4,019.55 range

Published: January 26 2023, 04:56 GMT+0

Lethargic the S&P 500 fails to breach tight 3,949 – 4,019.55 range

A quick look at yesterday: overall, S&P 500 shed around 0.78 points or 0.02% and ended yesterday's session at 4,016.22.

The S&P's state is reflected by market data as 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. 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. Fresh Cushing Crude Oil Inventories data from United States came out at 4.27 million.

While the S&P was pretty flat yesterday, mixed performances were seen elsewhere as Hang Seng added 1.73% and closed around 22,045 yesterday. KOSPI Composite Index is trading around 2,454.62 after ending yesterday's session at 2,428.57 (up 1.07% today). ASX 200 is down to 7,468.3, losing 22.1 points, after ending the previous session around 7,490.4.

Data to be released today might clear up some of the market fog 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 today at 13:30 UTC. 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. 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 S&P after trading as low as 3,577 and going on to appreciate by 5% year to date.