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

Published: May 26 2023, 23:25 GMT+0

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

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

On the flip side, following a previous reading of 0.3%, Core Durable Goods Orders in United States released today at 12:30 UTC fell short of the 0% figure expected by analysts with an actual reading of -0.2%. United States Pending Home Sales released earlier showed a marked improvement to 0% from the preceding data of -5.2%, but fell short of the 0.5% figure forecast by a consensus of market analysts.

At the same time, United States Core PCE Price Index (MoM) (Apr) released today at 12:30 UTC with a figure of 0.4, while the previous figure was 0.3.

Other markets are also showing gains as Nasdaq is trading around 12,976 after ending today's session at 12,700 (up 2.19% today). CAC rises 1.24% today 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. The S&P 500 hit a significant low of 3,577 around 7 months ago, but has since recovered 16.05%.