Risk-on sentiment allowed PSQ to post 0.37% gain yesterday

Published: January 26 2023, 03:51 GMT+0

Risk-on sentiment allowed PSQ to post 0.37% gain yesterday

Yesterday at a glance: ProShares Short QQQ closed yesterday at $13.65 (with a daily low of $13.61) after ending Tuesday at $13.6 and gaining 0.37%.

Nevertheless, United States Crude Oil Inventories fell short of the 971,000 projections, with new data of 533,000.

At the same time, 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. United States Cushing Crude Oil Inventories came out at 4.27 million.

Other markets are also showing gains as notably, AT&T rose 6.58% yesterday and closed at $19.16.

Meanwhile, NextEra Energy is down to $76.59, losing $7.31, after ending the previous session around $83.9. After ending yesterday's session at $71.44, HDFC Bank Limited lost $4.51 and is trading around $66.93.

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, projections for United States Core Durable Goods Orders are set for a continuation of decline with -0.2% while previous data was 0.1%; data will be released today at 13:30 UTC.

Furthermore, the market is looking at United States Core PCE Price Index (MoM) (Dec) will be released tomorrow at 13:30 UTC.

The current year has not been the best for ProShares Short QQQ as it lost 8.23% from its highest point of $15.25.