Risk-off sentiment pushes Ralph Lauren to 1.84% loss yesterday

Published: January 26 2023, 00:31 GMT+0

Risk-off sentiment pushes Ralph Lauren to 1.84% loss yesterday

A quick look at yesterday: in yesterday's bearish session, the luxury fashion brand shed around 1.84% in quick fashion, found support around the $122.53 level and finally closed at $124. In contrast, the day's events followed Tuesday's session in which the stock closed at $126.3.

United States Crude Oil Inventories fell short of the 971,000 projections, with new data 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. United States Cushing Crude Oil Inventories released yesterday at 15:30 UTC with a figure of 4.27 million, while the previous figure was 3.65 million.

On the other hand, positive performances could be seen by looking at other consumer discretionary stocks as Walt Disney traded at $108.12 after closing yesterday's trading day at $106 (up 2%). McDonald's was up 1.28%. Amazon was up 0.89%.

With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as United States Core Durable Goods Orders projected to come out at -0.2% — worse than previous data of 0.1%; data will be released today at 13:30 UTC.

Some optimism can drawn from the fact that 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.

Furthermore, United States Core PCE Price Index (MoM) (Dec) is scheduled for tomorrow at 13:30 UTC.

The stock has been trending positively for about a month. The luxury fashion brand has gained 15.75% since its lowest print of $83.96 earlier this year.