Risk-on mood helps PSQ post 0.37% gain yesterday

Published: January 26 2023, 07:06 GMT+0

Risk-on mood helps PSQ post 0.37% gain yesterday

A quick look at yesterday: with a daily low of $13.61, ProShares Short QQQ closed yesterday at $13.65, after ending Tuesday at $13.6 and gaining 5 cents (0.37%).

On the flip side, highly important Crude Oil Inventories data from United States beat analyst expectations of 971,000 with a reading 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. Fresh Cushing Crude Oil Inventories data from United States came out at 4.27 million.

ProShares Short QQQ shows positive signs, other assets are also on par: notably, AT&T rose 6.58% yesterday and closed at $19.16.

Meanwhile, after ending yesterday's session at $83.9, NextEra Energy lost $7.31 and is trading around $76.59. 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%. It previously stood at -4%; data will be released tomorrow at 15:00 UTC.

Also worthy of note, as things stand, upcoming United States Core Durable Goods Orders data is projected to fall short of market expectations with newly published data of -0.2%, following on from the preceding figure of 0.1%. New data is set to be published 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 scheduled for tomorrow at 13:30 UTC.

So far this year, ProShares Short QQQ has declined 7.92% while touching highs around $15.25 earlier this year.