Risk-on mood pushes the S&P 500 1.3% higher

Published: May 26 2023, 22:21 GMT+0

Risk-on mood pushes the S&P 500 1.3% higher

Today at a glance: the S&P went up to 4,205.45 today, gaining 1.3%.

On the flip side, 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%. Highly important Pending Home Sales data from United States beat analyst expectations of 0.5% with a reading of 0%.

At the same time, United States Core PCE Price Index (MoM) (Apr) came out at 0.4, while a consensus of analysts was expecting 0.3.

The S&P shows positive signs, other assets are also on par: Nasdaq is trading around 12,976 after ending today's session at 12,700 (up 2.19% today). CAC went up by 1.24% today, and closed at 7,319.18.

At the same time, 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%.