The Nasdaq index sheds 34.27 points (-0.18%) as market bears take the reigns

Published: January 26 2023, 04:25 GMT+0

The Nasdaq index sheds 34.27 points (-0.18%) as market bears take the reigns

A quick look at yesterday: Nasdaq ended the session around the 11,300 level today, after Tuesday's 34.27 points decline and close at 11,334.

Data from United States concerning Crude Oil Inventories was released yesterday at 15:30 UTC. Newly published figures emphasized continued decline from last month's figure of 8.41 million to 533,000 this month.

Amid the market gloom, 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. Fresh Cushing Crude Oil Inventories data from United States came out at 4.27 million.

In the meantime, negative performances are also seen in other markets, ASX 200 lost 0.3% yesterday and closed at 7,490.4.

Positive performances can be seen by looking at other markets as Hang Seng added 1.73% and closed around 22,045 yesterday. KOSPI Composite Index is trading around 2,447.63 after ending yesterday's session at 2,428.57 (up 0.78% today).

With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as United States Core Durable Goods Orders projected to decline to -0.2% while previous data was 0.1%; data will be released today at 13:30 UTC.

Some optimism can drawn from the fact that 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.

Furthermore, United States Core PCE Price Index (MoM) (Dec) will be released tomorrow at 13:30 UTC.

29 days ago, the Nasdaq fell to a low of 10,200 but has since recovered 11%.