Stagnant ARKK peaks at $37.58 amid sluggish price action

Published: January 26 2023, 03:00 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.

Uncertainty around ARK Innovation ETF is reflected by published market data as United States Crude Oil Inventories fell short of the 971,000 projections, with new data of 533,000. 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 after ending yesterday's session at $83.9, NextEra Energy lost $7.31 and is trading around $76.59. AT&T went up by 6.58% yesterday, and closed at $20.42. HDFC Bank Limited is down to $66.93, losing $4.51, after ending the previous session around $71.44.

Data to be released today might clear up some of the market fog as 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. 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) is scheduled for 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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