Philip Morris gains 2.09% within $102.28 to $104.06 daily range

Published: January 25 2023, 22:11 GMT+0

Philip Morris gains 2.09% within $102.28 to $104.06 daily range

Today at a glance: having closed yesterday at $101.3, bullish sentiment helped Philip Morris International to reach highs around $104.06 before paring gains and ending today at $103.42.

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

A look at other consumer staples stocks also showed bullish price action as Anheuser-Busch traded at $60.31 after closing today's trading day at $59.44 (up 1.46%). Coca-Cola traded at $60.93 after closing today's trading day at $60.55 (up 0.63%). PepsiCo traded at $171.93 after closing today's trading day at $170.69 (up 0.73%).

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

Trading mostly sideways for a month. The Swiss-American tobacco company is now trading 22.03% above the significant low ($83) it slumped to 3 months ago.

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