The end of a sideways session

Published: January 25 2023, 23:00 GMT+0

The end of a sideways session

  • Oatly was the biggest decliner after giving up 8.3% today Bright Health had a negative day today (down 6.38%).

Today's trading session saw to it that markets did not have a clear cut direction — Nasdaq lost 0.18% and ended the session at 11,300. S&P 500 closed 4,016.22 after a stable day.

US markets are now currently closed and set to reopen tomorrow; meanwhile, Asia-Pacific markets ended a mixed session today whilst KOSPI Composite Index improves by 1.39%, reaching 2,428.57.

Ambiguous macro data is influencing the market as following a previous reading of 8.41 million, Crude Oil Inventories in United States released today at 15:30 UTC fell short of the 971,000 figure expected by analysts with an actual 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.

Data to be released tomorrow might clear up some of the market fog as as things stand, upcoming United States Core Durable Goods Orders data is projected to fall short of market expectations with newly published data of -0.2%, following on from the preceding figure of 0.1%. New data is set to be published tomorrow 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 Friday. United States Core PCE Price Index (MoM) (Dec) is scheduled for Friday.

While markets were generally sideways today, these assets pulled ahead as Outbrain up 3.95% trading at $five.

Despite lacklustre price action, some assets lagged behind their peers as Oatly lost 8.3% today before closing at $2.21. Bright Health had a negative day today (down 6.38%).

Oatly | Closed today's session at $2.21

  • The Swedish food company has recovered 81.2% since descending to a significant low of $1.33 around a month ago.

Oatly hit a significant low of $1.33 around a month ago, but has since recovered 81.2%. So far this year, it has performed better than the Nasdaq by 11.73%. The company has a market cap of $1.31 billion with an average daily volume of 6.91 million shares. Oatly has a forecast of $212.1 million with an EPS of -11 cents.

Outbrain has been pretty quiet for the last 18 days, trading mostly flat and moving by only 8.0556 cents on average. Trading volume totalled 158,361 which equates to around 83% of the stock's 21-day average today.