Upbeat European equities follow US lead from Wednesday prior to Thanksgiving

Published: November 25 2022, 13:00 GMT+0

Upbeat European equities follow US lead from Wednesday prior to Thanksgiving

  • Wednesday's star of the day Coupa Software Incorporated appreciates 28.89% prior to Thanksgiving
  • Top laggard iShares Trust – iShares iBonds Dec 2021 Term Treasury ETF gave up 1 cents, or 0.04% Wednesday
  • European markets are trending positively as FTSE added 0.27% to trade at 7,486.56.

The Thanksgiving holiday means US markets are closed up until today. In the last trading session before Thanksgiving, markets closed higher Wednesday, as Nasdaq gained 0.99% and closed at 11,300. S&P 500 ended the session at 4,027.26 after a 0.59% gain.

US traders are set to return to their desks today. Meanwhile, elsewhere in equities, European session in progress; markets are rising as FTSE is up by 0.27%, hitting 7,486.56. Asia-Pacific markets ended a mixed session today whilst ASX 200 improves by 0.24%, reaching 7,259.5.

Uptick coincides with some positive signs published earlier as data for United States Core Durable Goods Orders published Wednesday came out at 0.5%, beating projections of 0.1% and showing improvement over the preceding figure of -0.9%.

On a negative note, the market received some disappointing news as United States Crude Oil Inventories fell short of the -1 million projections, with new data of -3.69 million.

Today's rise takes place amid mixed market indicators — United States New Home Sales (Oct) released Wednesday with a figure of 632,000, while the previous figure was 588,000.

While most stocks did well Wednesday, some did better than others as Coupa Software Incorporated trades at $58.93 having gained 28.89%. Confluent (up 12.31%).

Wednesday's bullishness contained stock stragglers as noticeable risk-on sentiment wasn't enough to prevent iShares Trust – iShares iBonds Dec 2021 Term Treasury ETF giving up 1 cents, or 0.04%, before ending the session at $25.35.

Wednesday's gains added to Confluent, Inc. Class A Common Stock's 3 days uptrend, during which it increased a total of 12 cents. Wednesday's trading volume was 3.17 million shares which is slightly under the 21-day average of 3.53 million.

Bullish mood lifts Coupa Software Incorporated to session high of $62.65

On-trend Coupa Software Incorporated closed the session Wednesday with more of the same: the global tech company ended Tuesday's session at $45.72, spiked up to $62.65 and closed at $58.93 — gaining 28.89% Wednesday. Coupa Software Incorporated's market cap currently stands at $4.47 billion with an average daily volume of 2.75 million shares. So far in 2022, it has been doing worse than the Nasdaq by 29%.