Markets on route to close higher as trading day comes to a close

Published: September 28 2022, 20:00 GMT+0

Markets on route to close higher as trading day comes to a close

  • Costco and Accenture plc Class A (Ireland) are the latest companies to report Q2 earnings while Nike & Micron Technology next
  • Vanguard Mortgage-Backed Securities ETF gains 2% as the top gainer; currently at $45.58
  • European markets are showing gains.

With the trading session drawing to a close, the leading indices are showing gains — Dow Jones up 1.94%, trading at 29,700. S&P 500 goes up 2.05%, trading at 3,722.

European equity markets are currently seeing a boost in risk-on sentiment. Asia-Pacific markets are dropping as KOSPI Composite Index is down by 2.45%, reaching 2,169.29

With bond yields tumbling, investors are turning their attention to stocks. The iShares U.S. Treasury Bond ETF has gone up 1.44% to trade at $22.91.

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

On a negative note, the market received some disappointing news as Crude Oil Inventories in United States fell short of market expectations (443,000) with a reading of -215,000, continuing the decline from the previous figure of 1.14 million. Pending Home Sales in United States fell short of market expectations (-1.4%) with a reading of -2%, continuing the decline from the previous figure of -0.6%.

Today's rise takes place amid mixed market indicators — United States New Home Sales (Aug) released yesterday at 14:00 UTC with a figure of 685,000, while the previous figure was 532,000.

Also worthy of note, United States Initial Jobless Claims projected to decline to 215,000 while previous data was 213,000; data will be released tomorrow at 12:30 UTC.

Furthermore, the market is looking at United States Core PCE Price Index (MoM) (Aug) scheduled to come out Friday. United States GDP is expected tomorrow at 12:30 UTC.

While indices are generally bullish today, some individual stock performances stood out as Vanguard Mortgage-Backed Securities ETF trades at $45.58 having gained 2%. IShares Core Total USD Bond Market ETF (up 1.55%) is also performing well.

Vanguard Mortgage-Backed Securities ETF explodes to $45.58 (+2%)

Vanguard Mortgage-Backed Securities ETF went up to $45.65 only to drop back to some of the way and is now trading at $45.58.

Bullish Vanguard Short-Term Corporate Bond ETF currently 67.5 cents higher after trading as low as $74.3

Vanguard Short-Term Corporate Bond ETF went up to $74.71 only to drop back some of the way and is now trading at $74.67.

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