Procter & Gamble hits 2 months low before recovering $2.35

Published: January 25 2023, 19:30 GMT+0

Procter & Gamble hits 2 months low before recovering $2.35

Yesterday's session ended at $141.82; today, the consumer goods corporation dropped to its lowest point in 2 months at $138.73. It later recovered $2.35 and is now trading at $141.08.

United States's Crude Oil Inventories new data released of 533,000 below its previous figure.

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.

While price action maintains a negative bias, 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.

In the meantime, negative performances are also seen in other consumer staples stocks as after closing the previous session (yesterday) at $143.02, Walmart lost $1.33 and is trading around $141.69.

Positive performances can be seen by looking at other consumer staples stocks as Philip Morris International gained 1.94%, currently at $103.27. Anheuser-Busch is up 1.18% to $60.14.

Looking ahead, ongoing depreciation may be prolonged as United States Core Durable Goods Orders expected to decline to -0.2% while its preceding data was 0.1%, data will be available tomorrow at 13:30 UTC. United States GDP projected to decline to 2.6 while previous data was 3.2; data will be released 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.

Furthermore, United States New Home Sales (Dec) is scheduled for tomorrow at 15:00 UTC.

The current year has not been the best for the consumer goods company as it lost 6.43% from its highest point of $164.14.

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