Risk-on mood helps PSQ post 0.37% gain yesterday

Published: January 26 2023, 03:16 GMT+0

Risk-on mood helps PSQ post 0.37% gain yesterday

Yesterday at a glance: ProShares Short QQQ closed yesterday at $13.65 (with a daily low of $13.61) after ending Tuesday at $13.6 and gaining 0.37%.

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 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.

Other markets are also showing gains as AT&T is trading around $20.42 after ending yesterday's session at $19.16 (up 6.58% today).

At the same time, NextEra Energy lost 8.71% yesterday and closed at $83.9. HDFC Bank Limited is down to $66.93, losing $4.51, after ending the previous session around $71.44.

Yesterday's gains have given market bulls further impetus to expect strong macro data going forward, such as United States Pending Home Sales is projected to outperform its last figure with -0.9%, having previously been at -4%. The figure will be published tomorrow at 15:00 UTC.

Also worthy of note, United States Core Durable Goods Orders expected to decline to -0.2% while its preceding data was 0.1%, data will be available today at 13:30 UTC.

The market is looking forward to the release of new data: United States Core PCE Price Index (MoM) (Dec) is expected tomorrow at 13:30 UTC.

The current year has not been the best for ProShares Short QQQ as it lost 8.23% from its highest point of $15.25.