Markets have no obvious direction as trading sees the middle of session

Published: November 25 2022, 17:00 GMT+0

Markets have no obvious direction as trading sees the middle of session

  • Lufax crashes 20.57% by midday Sociedad Quimica y Minera (down 6.93%) has also underperformed today.
  • European markets are sideways.

The trading session is well on its way, markets are mixed with Dow Jones goes up 0.52%, trading at 34,372. Nasdaq drawing back 0.35% to 11,246.

European markets show no gains or losses. Asia-Pacific markets are currently mixed so far this session.

Ambiguous macro data is influencing the market as highly important Crude Oil Inventories data from United States beat analyst expectations of -1 million with a reading of -3.69 million. United States New Home Sales (Oct) released Wednesday with a figure of 632,000, while the previous figure was 588,000. United States Core Durable Goods Orders beat analyst expectations of 0.1% and the previous reading of -0.9% with new data of 0.5%.

Despite lacklustre price action, some stocks are lagging behind their peers as Lufax seems to be down today, losing 20.57% of its value. Sociedad Quimica y Minera (down 6.93%) has also underperformed today.

Lufax currently down 20.57% prior to afternoon session

The Chinese personal financial services platform drops 20.57% in early trade and remains within touching distance of the $1.39 level. The company's market cap is $3.18 billion with an average daily volume of 15.85 million shares. So far in 2022, it has been under-performing the Nasdaq by 28.78%.

IShares Trust – iShares iBonds Dec 2021 Term Treasury ETF continues trading sideways, currently 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 is trading at $25.35 after closing the previous day at $25.36.

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