Stagnant ARKK peaks at $37.58 amid sluggish price action

Published: January 26 2023, 01:36 GMT+0

Stagnant ARKK peaks at $37.58 amid sluggish price action

A quick look at yesterday: ARK Innovation ETF closed a flat day of trading at $37.51 yesterday after ending Tuesday at $37.48.

This uncertain state for ARK Innovation ETF is reflected by published market data as Crude Oil Inventories in United States fell short of market expectations (971,000) with a reading of 533,000, continuing the decline from the previous figure of 8.41 million. 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.

While ARK Innovation ETF was pretty flat yesterday, mixed performances were seen elsewhere as NextEra Energy tumbles 8.71% yesterday and closed at $83.9. AT&T skyrockets 6.58% yesterday and closed at $19.16. After ending yesterday's session at $71.44, HDFC Bank Limited lost $4.51 and is trading around $66.93.

Data to be released today might clear up some of the market fog as today at 13:30 UTC data for United States Core Durable Goods Orders will be released, with an expected decline to -0.2% from the preceding figure of 0.1%. 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. United States Core PCE Price Index (MoM) (Dec) scheduled to come out tomorrow at 13:30 UTC.

ARK Innovation ETF has managed to gain 23.17% so far this year despite trading at lows around $29.64 previously.

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