Markets are bullish as the trading day gets underway

Published: September 27 2022, 14:00 GMT+0

Markets are bullish as the trading day gets underway

  • BeiGene gains 7% as the top gainer; currently at $141
  • Top laggard iShares Trust – iShares iBonds Dec 2021 Term Treasury ETF giving up 1 cents, or 0.04%, so far this session
  • European equity markets are currently seeing a boost in risk-on sentiment.

The trading session has started and markets are up including news that S&P 500 up to 3,698.67, gaining 1.19%. Nasdaq goes up 1.6%, trading at 10,976. Dow Jones goes up 0.93%, trading at 29,533.

European markets are showing gains. Asia-Pacific markets are showing gains.

The earnings season is coming to an end and Costco & Accenture plc Class A (Ireland) have release their reports.

Today's rise takes place amid mixed market indicators — United States's Core Durable Goods Orders published today at 12:30 UTC came out at 0.2%. The fresh reading lived up to analyst expectations as well as matching the previous month's figure. United States S&P/CS HPI Composite – 20 n.s.a. (YoY) (Jul) came out at 16.1, while a consensus of analysts was expecting 17. United States Core Durable Goods Orders released today at 12:30 UTC is better than expected at -0.2% but down from preceding data of -0.1% according to new data.

Also worthy of note, tomorrow at 14:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to 333,000 from the preceding figure of 1.14 million. United States Pending Home Sales expected to decline to -1.4% while its preceding data was -1%, data will be available tomorrow at 14:00 UTC. United States Initial Jobless Claims projected to decline to 215,000 while previous data was 213,000; data will be released Thursday.

While indices are generally bullish today, some individual stock performances stood out as BeiGene trades at $141 having gained 7%. Fortis (up 0.26%) is also performing well.

Risk-on sentiment couldn't save iShares Trust – iShares iBonds Dec 2021 Term Treasury ETF from giving up 1 cents, or 0.04%, so far this session – currently trading at $25.35.

Stagnant iShares Trust – iShares iBonds Dec 2021 Term Treasury ETF mostly flat, trades at $25.35

Today's session so far looks to be heading in a similar way — iShares Trust – iShares iBonds Dec 2021 Term Treasury ETF trades at $25.35, after ending yesterday at $25.36.

Fortis jumps 0.26% to $40.52

After closing the previous trading day at $40.41, Fortis is up to $40.52, which makes for a move of 0.26%/10.5 cents today. Fortis has a market cap of $19.56 billion with an average daily trading volume of 642,685 shares. So far in 2022, it has been outperforming the Nasdaq by 31.24%.

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