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

Published: January 26 2023, 05:36 GMT+0

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

Yesterday at a glance: with a daily low of $13.61, ProShares Short QQQ closed yesterday at $13.65, after ending Tuesday at $13.6 and gaining 5 cents (0.37%).

Nevertheless, United States Crude Oil Inventories published yesterday at 15:30 UTC came out at 533,000, falling short of the 971,000 projections and continuing its decline from the previous 8.41 million figure.

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 released yesterday at 15:30 UTC with a figure of 4.27 million, while the previous figure was 3.65 million.

ProShares Short QQQ shows positive signs, other assets are also on par: AT&T skyrockets 6.58% yesterday and closed at $19.16.

Meanwhile, NextEra Energy crashes 8.71% yesterday and closed at $83.9. HDFC Bank Limited is down to $66.93, losing $4.51, after ending the previous session around $71.44.

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.

Furthermore, the market is looking at United States Core Durable Goods Orders projected to come out at -0.2% — worse than previous data of 0.1%; data will be released today at 13:30 UTC.

Also worthy of note, United States Core PCE Price Index (MoM) (Dec) is scheduled for 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.