Risk-on mood pushes the S&P 1.3% higher

Published: May 27 2023, 05:41 GMT+0

Risk-on mood pushes the S&P 1.3% higher

A quick look at yesterday: S&P 500 closed yesterday at 4,205.45 (with a daily low of 4,156) after ending Thursday at 4,151.28 and gaining 1.3%.

Nevertheless, highly important Core Durable Goods Orders data from United States beat analyst expectations of 0% with a reading of -0.2%.

Meanwhile, 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.

Other markets are also showing gains as Nasdaq goes up 2.19% yesterday and closed at 12,700. CAC ascends 1.24% yesterday and closed at 7,229.27.

Meanwhile, Hang Seng is down to 18,747, losing 353.08 points, after ending the previous session around 19,100.

The index has been trending positively for about 2 months. 7 months ago, the S&P fell to a low of 3,577 but has since recovered 16.05%.