US investors head into Thanksgiving holiday with bullish cheer

Published: November 25 2022, 08:00 GMT+0

US investors head into Thanksgiving holiday with bullish cheer

  • 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 DAX is up by 0.78%, hitting 14,540.

Markets are closed due to the Thanksgiving holiday but will reopen today. Looking back over the previous session, leading equity indices in the US rose as Nasdaq closed the day at 11,300, having gained 0.99%. S&P 500 gained 0.59% and closed at 4,027.26.

US traders are set to return to their desks today. Meanwhile, elsewhere in equities, European markets are up as DAX climbs by 0.78%, reaching 14,540. Asia-Pacific markets ended a mixed session today whilst ASX 200 rises by 0.24%, reaching 7,259.5.

Uptick coincides with some positive signs published earlier as United States Core Durable Goods Orders improved upon its previous reading of -0.9% with a new data release of 0.5%.

On a negative note, the market received some disappointing news as United States Crude Oil Inventories improved upon its previous reading of -5.4 million with a new data release of -3.69 million.

Today's rise takes place amid mixed market indicators — United States New Home Sales (Oct) came out at 632,000, while a consensus of analysts was expecting 570,000.

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%) is also performing well.

Wednesday's bullishness contained stock stragglers as iShares Trust – iShares iBonds Dec 2021 Term Treasury ETF closed at $25.35 having dropped 0.04%.

Confluent closes at $23.18 after gaining 12.31%

Wednesday continued on the same track for Confluent — an influx of buyers helped the US software company to end the session higher around $23.18, while establishing a $20.62 to $23.5 session range Wednesday. Confluent is currently trading with a market cap of $3.56 billion with an average daily trading volume of 3.53 million shares. So far in 2022, it has been under-performing the Nasdaq by 28.67%.

Wednesday's gains added to Coupa Software Incorporated's bullish trend that has lasted for 3 days so far, during which it increased a total of 8 cents. Daily trading volume (14 million shares) increased, making up 511% of the 21-day average (2.75 million).

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