McDonald's gains 1.28% within $268.87 to $273.07 daily range

Published: January 25 2023, 23:16 GMT+0

McDonald's gains 1.28% within $268.87 to $273.07 daily range

A quick look at today: after closing at $269.56 on yesterday, McDonald's maintained a strong bullish bias that helped the stock close higher at $273 today. However, market bears ensured the the fast food company topped out at $273.07 and that by the end of the session, the market had marked out a distinct $268.87 to $273.07 range.

Nevertheless, following a previous reading of 8.41 million, Crude Oil Inventories in United States released today at 15:30 UTC fell short of the 971,000 figure expected by analysts with an actual reading of 533,000.

At the same time, 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 came out at 4.27 million.

This rally in McDonald's's share price coincided with other consumer discretionary stocks as Walt Disney added 2% to its value, and traded at $108.12. Amazon was up 0.89%. Alibaba gained 0.68%, as it traded at $120.25.

Also worthy of note, tomorrow at 13:30 UTC data for United States Core Durable Goods Orders will be released, with an expected decline to -0.2% from the preceding figure of 0.1%. As things stand, upcoming United States GDP data is projected to fall short of market expectations with newly published data of 2.6, following on from the preceding figure of 3.2. New data is set to be published tomorrow at 13:30 UTC. United States Initial Jobless Claims projected to come out at 205,000 — worse than previous data of 190,000; data will be released tomorrow at 13:30 UTC.

The fast food giant has gained 1.98% since its lowest print of $222 earlier this year.

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