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

Published: January 25 2023, 23:31 GMT+0

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

Today at a glance: Nasdaq ended the session around the 11,300 level today, after yesterday's 34.27 points decline and close at 11,334.

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.

While price action maintains a negative bias, 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. 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 is down to 7,468.3, losing 22.1 points, after ending the previous session around 7,490.4.

Positive performances can be seen by looking at other markets as notably, KOSPI Composite Index rose 1.39% today and closed at 2,395.26. Hang Seng went up by 1.82% today, and closed at 22,045.

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 tomorrow at 13:30 UTC. Tomorrow at 13:30 UTC data for United States GDP will be released, with an expected decline to 2.6 from the preceding figure of 3.2. United States Initial Jobless Claims projected to come out at 205,000 — worse than previous data of 190,000; data will be released tomorrow at 13:30 UTC.

The Nasdaq hit a significant low of 10,200 around 28 days ago, but has since recovered 11%.

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