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

Published: May 27 2023, 09:36 GMT+0

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

Yesterday at a glance: with a daily low of 4,156, S&P 500 closed yesterday at 4,205.45, after ending Thursday at 4,151.28 and gaining 54.17 points (1.3%).

Nevertheless, 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%.

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.

The S&P 500 shows positive signs, other assets are also on par: notably, Nasdaq rose 2.19% yesterday and closed at 12,700. CAC goes up 1.24% yesterday and closed at 7,229.27.

At the same time, Hang Seng falls 1.93% yesterday and closed at 19,100.

The index has been trending positively for about 2 months. 7 months ago, the S&P 500 fell to a low of 3,577 but has since recovered 16.05%.