Pfizer levels up 0.81% in yesterday's session; traders eye opening bell in 9 hours time

Published: January 26 2023, 05:06 GMT+0

Pfizer levels up 0.81% in yesterday's session; traders eye opening bell in 9 hours time

A quick look at yesterday: pronounced bullish sentiment in the market helped the multinational pharma juggernaut to make a notable 0.81% gain yesterday, rising 36 cents and ultimately closing at $45.07.

Nevertheless, highly important Crude Oil Inventories data from United States beat analyst expectations of 971,000 with a reading of 533,000.

Meanwhile, 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. Fresh Cushing Crude Oil Inventories data from United States came out at 4.27 million.

A look at other health care stocks also showed bullish price action as Bristol-Myers Squibb Company traded at $73.17 after closing yesterday's trading day at $72.34 (up 1.15%). Novartis traded at $92.81 after closing yesterday's trading day at $92 (up 0.86%).

While Pfizer was bullish yesterday, the following health care stocks underperformed: Abbott Laboratories decreases 1.36% yesterday to close at $112.53.

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%. It previously stood at -4%; data will be released tomorrow at 15:00 UTC.

Also worthy of note, 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%.

The market is looking forward to the release of new data: United States Core PCE Price Index (MoM) (Dec) scheduled to come out tomorrow at 13:30 UTC.

On a negative trend for around a month. So far this year, the multinational pharma juggernaut has declined 12.78% while touching highs around $55.17 earlier this year.

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