Markets remain in flux as trading day moves towards close

Published: January 25 2023, 20:00 GMT+0

Markets remain in flux as trading day moves towards close

  • Lead straggler NextEra Energy tumbles 7.94% as lethargic equity market winds down to close Bright Health (down 5.53%) has also underperformed today.
  • European markets are sideways.

With the trading session drawing to a close, markets don't have a clear cut direction β€” Nasdaq trades at 11,300 after losing 0.25%. S&P 500 holds at 4,012.75.

European markets show no gains or losses. Asia-Pacific markets are in session with varied performances.

Ambiguous macro data is influencing the market as highly important Crude Oil Inventories data from United States beat analyst expectations of 971,000 with a reading of 533,000. 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.

Furthermore, the market is looking at United States Core Durable Goods Orders projected to come out at -0.2% β€” worse than previous data of 0.1%; data will be released tomorrow 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 Friday. United States Core PCE Price Index (MoM) (Dec) is scheduled for Friday.

While markets are generally sideways so far today, these assets are pulling ahead as Outbrain up 3.22% trading at $4.96.

Despite lacklustre price action, some assets are lagging behind their peers as NextEra Energy is trading at $77.24, tumbles 7.94%. Bright Health (down 5.53%) has also underperformed today.

Outbrain | Broadly flat at $4.96; session high: $5 session low: $4.66

  • Outbrain Inc. Common Stock hit a significant low of $3.36 around 28 days ago, but has since recovered 43.15%.

The online ad company has recovered 43.15% since descending to a significant low of $3.36 around 28 days ago. The online ad company's market cap currently stands at $260.94 million with an average daily trading volume of 191,566 shares. Outbrain last reported revenue of $229 million with an EPS of -10 cents.

Bright Health | –5.53%; session high: 91.07 cents session low: 85.01 cents

  • The US health insurance company has gained 64% since its lowest print of 52.38 cents earlier this year.

This year has been a bright one for the health insurance provider after trading as low as 52.38 cents and going on to appreciate by 64% year to date. The Nasdaq has been doing worse in 2022, it has been passing it by 55.65%. Currently, the health insurance provider has a market capitalization of $551.19 million with an average daily volume of 1.77 million shares. Bright Health's last revenue report was $1.63 billion with an EPS of -35 cents.

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