Stagnant ARKK peaks at $37.58 amid sluggish price action

Published: January 26 2023, 04:11 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.

ARK Innovation ETF's state is reflected by 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 came out at 4.27 million.

While ARK Innovation ETF was pretty flat yesterday, mixed performances were seen elsewhere as NextEra Energy plunges 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) is expected 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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