Novavax suffers weak session with 3.81% loss; downside halted at $10.91

Published: January 26 2023, 07:25 GMT+0

Novavax suffers weak session with 3.81% loss; downside halted at $10.91

Yesterday at a glance: the US biotechnology company found support around the $11.11 level, after closing Tuesday at $11.55 and dropping by 3.81% yesterday.

Data from United States concerning Crude Oil Inventories was released yesterday at 15:30 UTC. Newly published figures emphasized continued decline from last month's figure of 8.41 million to 533,000 this month.

Amid the market gloom, 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 released yesterday at 15:30 UTC with a figure of 4.27 million, while the previous figure was 3.65 million.

Novavax was not the only decliner in the health care sector; Abbott Laboratories lost 1.36% yesterday and closed at $111.

On the other hand, positive performances could be seen by looking at other health care stocks as Bristol-Myers Squibb Company gained 1.15%, as it traded at $73.17. Pfizer traded at $45.07 after closing yesterday's trading day at $44.71 (up 0.81%).

With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as projections for United States Core Durable Goods Orders are set for a continuation of decline with -0.2% while previous data was 0.1%; data will be released today at 13:30 UTC.

Moreover, 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, United States Core PCE Price Index (MoM) (Dec) will be released tomorrow at 13:30 UTC.

The stock has been trending positively for about 29 days. The US biotechnology company traded as high as $95.18 before shedding 79.19% lower over the past six months.