The Nasdaq retreats 24.31 points from 9 months high

Published: May 26 2023, 23:16 GMT+0

The Nasdaq retreats 24.31 points from 9 months high

Nasdaq rallied to 13,000, hitting its highest point in 9 months; it later lost 24.31 points and closed at 12,976.

Nevertheless, highly important Core Durable Goods Orders data from United States beat analyst expectations of 0% with a reading of -0.2%. United States Pending Home Sales released earlier showed a marked improvement to 0% from the preceding data of -5.2%, but fell short of the 0.5% figure forecast by a consensus of market analysts.

Meanwhile, United States Core PCE Price Index (MoM) (Apr) released today at 12:30 UTC with a figure of 0.4, while the previous figure was 0.3.

The Nasdaq shows positive signs, other assets are also on par: S&P 500 is trading around 4,205.45 after ending today's session at 4,151.28 (up 1.3% today). CAC is trading around 7,319.18 after ending today's session at 7,229.27 (up 1.24% today).

Meanwhile, Hang Seng is down to 18,747, losing 353.08 points, after ending the previous session around 19,100.

The index has been trending positively for about 2 months. The Nasdaq has gained 25.61% since its lowest print of 10,200 earlier this year.