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

Published: January 26 2023, 06:25 GMT+0

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

A quick look at yesterday: overall, Nasdaq shed around 34.27 points or 0.18% and ended yesterday's session at 11,300.

Highly important Crude Oil Inventories data from United States beat analyst expectations of 971,000 with a reading of 533,000.

While price action maintains a negative bias, 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 released yesterday at 15:30 UTC with a figure of 4.27 million, while the previous figure was 3.65 million.

In the meantime, negative performances are also seen in other markets, after ending yesterday's session at 7,490.4, ASX 200 lost 22.1 points and is trading around 7,468.3.

Other assets are showing positive performances as KOSPI Composite Index is trading around 2,464.29 after ending yesterday's session at 2,428.57 (up 1.47% today). Hang Seng went up by 2% yesterday, and closed at 22,500.

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

Moreover, United States Pending Home Sales is projected to outperform its last figure with -0.9%, having previously been at -4%. The figure will be published tomorrow at 15:00 UTC.

Furthermore, United States Core PCE Price Index (MoM) (Dec) is scheduled for tomorrow at 13:30 UTC.

The Nasdaq is up 11% from the significant low of 10,200 it hit 29 days ago.

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