Mondelez ended the session at $65, up 0.25%, adding another to its 4th straight day of gains

Published: January 26 2023, 07:16 GMT+0

Mondelez ended the session at $65, up 0.25%, adding another to its 4th straight day of gains

Yesterday at a glance: after dipping down to $64.08, Mondelez International regained earlier losses and ended up at $65.

Mondelez's uptick comes amid disappointing United States macroeconomic data released during the session – following a previous reading of 8.41 million, Crude Oil Inventories in United States released yesterday 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 yesterday 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 Mondelez's share price coincided with other consumer staples stocks as Philip Morris International added 2.09% to its value, and traded at $103.42. Anheuser-Busch traded at $60.31 after closing yesterday's trading day at $59.44 (up 1.46%). Coca-Cola traded at $60.93 after closing yesterday's trading day at $60.55 (up 0.63%).

Yesterday's gains have given market bulls further impetus to expect strong macro data going forward, such as 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 tomorrow at 15:00 UTC.

Furthermore, the market is looking at today 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%.

Elsewhere, United States Core PCE Price Index (MoM) (Dec) scheduled to come out tomorrow at 13:30 UTC.

Pointing downwards for around a month. Mondelez hit a significant low of $54.83 around 3 months ago, but has since recovered 18.26%.

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