Solid session for Best Buy generates 4.28% gain yesterday

Published: May 27 2023, 08:40 GMT+0

Solid session for Best Buy generates 4.28% gain yesterday

Yesterday at a glance: the US consumer electronics retailer went up to $74.33, gaining 4.28%.

On the flip side, United States Core Durable Goods Orders published yesterday at 12:30 UTC came out at -0.2%, falling short of the 0% projections and continuing its decline from the previous 0.3% figure.

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.

This rally in Best Buy's share price coincided with other consumer discretionary stocks as Amazon added 4.44% to its value, and traded at $120.11. Tesla traded at $193.17 after closing yesterday's trading day at $184.47 (up 4.72%). Lowe's gained 2.73%, as it traded at $206.52.

On a negative trend for around 3 months. 3 months ago the renowned consumer electronics supplier reached a significant high of $91.42 but has consequently lost 22.03% since then.