Risk-off mood drags United 0.46% lower

Published: May 27 2023, 03:36 GMT+0

Risk-off mood drags United 0.46% lower

Yesterday at a glance: grinding lower but with no clear-cut direction, the major US airline closed the session at $47.26 after forming a distinct $46.93 – $48.18 range.

Core Durable Goods Orders in United States fell short of market expectations (0%) with a reading of -0.2%, continuing the decline from the previous figure of 0.3%.

Amid the market gloom, United States Core PCE Price Index (MoM) (Apr) came out at 0.4, while a consensus of analysts was expecting 0.3. United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 193,100, while the previous figure was 191,500.

On the other hand, positive performances could be seen by looking at other industrials stocks as Lockheed Martin added 1.27% to its value, and traded at $448.45. Boeing gained 1.37%, as it traded at $203.63. General Electric was up 1.2%.

The stock has been trending positively for about 2 months. Having soared to a high of $54.26 approximately 2 months ago, the major US airline is now trading 12.5% lower.