Pfizer posts solid session with 0.81% gain; upside capped at $45.11

Published: January 25 2023, 23:40 GMT+0

Pfizer posts solid session with 0.81% gain; upside capped at $45.11

A quick look at today: bullish sentiment helped the pharmaceuticals and biotechnology company to hammer out a noteworthy $44.59 to $45.11 range today, and finally closing at $45.07 to end the session.

On the flip side, Crude Oil Inventories in United States fell short of market expectations (971,000) with a reading of 533,000, continuing the decline from the previous figure of 8.41 million.

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 Pfizer's share price coincided with other health care stocks as Bristol-Myers Squibb Company was up 1.15%. Novartis traded at $92.81 after closing today's trading day at $92 (up 0.86%).

While Pfizer was bullish today, the following health care stocks underperformed: Abbott Laboratories went down to $111, losing 1.36% after it closed at $112.53 today.

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%. United States GDP projected to decline to 2.6 while previous data was 3.2; data will be released tomorrow at 13:30 UTC. As things stand, upcoming United States Initial Jobless Claims data is projected to fall short of market expectations with newly published data of 205,000, following on from the preceding figure of 190,000. New data is set to be published tomorrow at 13:30 UTC.

Pointing downwards 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.