Stagnant ARKK peaks at $37.58 amid sluggish price action

Published: January 25 2023, 23:21 GMT+0

Stagnant ARKK peaks at $37.58 amid sluggish price action

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

ARK Innovation ETF's state is reflected by market data as highly important Crude Oil Inventories data from United States beat analyst expectations of 971,000 with a reading of 533,000. United States 5-Year Note Auction released today at 18:00 UTC with a figure of 3.53, while the previous figure was 3.973. United States Cushing Crude Oil Inventories released today 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 today, mixed performances were seen elsewhere as NextEra Energy lost 8.71% today and closed at $83.9. AT&T is trading around $20.42 after ending today's session at $19.16 (up 6.58% today). After ending today's session at $71.44, HDFC Bank Limited lost $4.51 and is trading around $66.93.

Data to be released tomorrow might clear up some of the market fog as United States Core Durable Goods Orders projected to come out at -0.2% — worse than previous data of 0.1%; data will be released tomorrow at 13:30 UTC. As things stand, upcoming United States GDP data is projected to fall short of market expectations with newly published data of 2.6, following on from the preceding figure of 3.2. New data is set to be published tomorrow at 13:30 UTC. Tomorrow at 13:30 UTC data for United States Initial Jobless Claims will be released, with an expected decline to 205,000 from the preceding figure of 190,000.

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.