Stagnant ARKK peaks at $37.58 amid sluggish price action

Published: January 26 2023, 01:50 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 data from United States concerning Crude Oil Inventories was released yesterday at 15:30 UTC. Newly published figures emphasized continued decline from last month's figure of 8.41 million to 533,000 this month. 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. Fresh Cushing Crude Oil Inventories data from United States came out at 4.27 million.

While ARK Innovation ETF was pretty flat yesterday, mixed performances were seen elsewhere as after ending yesterday's session at $83.9, NextEra Energy lost $7.31 and is trading around $76.59. AT&T is trading around $20.42 after ending yesterday's session at $19.16 (up 6.58% today). 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%, having previously been at -4%. The figure will be published tomorrow at 15:00 UTC. United States Core PCE Price Index (MoM) (Dec) will be released tomorrow at 13:30 UTC.

This year has been a bright one for ARK Innovation ETF after trading as low as $29.64 and going on to appreciate by 23.17% year to date.

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