Passive market sees the S&P 500 dipping as low as 3,949; now at 4,013

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

Passive market sees the S&P 500 dipping as low as 3,949; now at 4,013

As the current session draws to a close, the S&P 500 remains in the 3,949 – 4,019.55 range after dropping 0.1%.

This uncertain state for the S&P 500 is reflected by published market data as 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. 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.

While the S&P is pretty flat so far today, mixed performances are seen elsewhere as KOSPI Composite Index is up 1.39%. Hang Seng is up 1.82%. ASX 200 is down to 7,468.3, losing 22.1 points, after closing at 7,490.4 in the preceding trading session.

Data to be released later is expected to clarify investor sentiment while boosting price action volatility as as things stand, upcoming United States Core Durable Goods Orders data is projected to fall short of market expectations with newly published data of -0.2%, following on from the preceding figure of 0.1%. New data is set to be published tomorrow at 13:30 UTC. United States GDP expected to decline to 2.6 while its preceding data was 3.2, data will be available 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.

This year has been a bright one for the S&P 500 after trading as low as 3,577 and going on to appreciate by 5.04% year to date.

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