Stagnant the S&P peaks at 4,019.55 amid sluggish price action

Published: January 25 2023, 21:35 GMT+0

Stagnant the S&P peaks at 4,019.55 amid sluggish price action

A quick look at today: the S&P 500 retained its composure around the 4,016.22 level after dropping 0.02%.

This uncertain state for the S&P 500 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 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 the S&P was pretty flat today, mixed performances were seen elsewhere as KOSPI Composite Index improves 1.39% today and closed at 2,395.26. Hang Seng added 1.82% and closed around 21,651 today. After ending today's session at 7,490.4, ASX 200 lost 22.1 points and is trading around 7,468.3.

Data to be released tomorrow might clear up some of the market fog as United States Core Durable Goods Orders expected to decline to -0.2% while its preceding data was 0.1%, data will be available tomorrow at 13:30 UTC. Projections for United States GDP are set for a continuation of decline with 2.6 while previous data was 3.2; data will be released 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.

The S&P 500 has managed to gain 5.04% so far this year despite trading at lows around 3,577 previously.