Yesterday Spotify increased by 1.8%, ended the session at $150.31

Yesterday at a glance: the video entertainment company gained 1.8% and stayed at $150.31 levels.

On the flip side, highly important Core Durable Goods Orders data from United States beat analyst expectations of 0% with a reading of -0.2%.

Meanwhile, United States Core PCE Price Index (MoM) (Apr) released yesterday at 12:30 UTC with a figure of 0.4, while the previous figure was 0.3. Fresh CFTC Crude Oil speculative net positions data from United States came out at 193,100.

This rally in Spotify's share price coincided with other communication services stocks as Netflix was up 5.54%. Meta Platforms traded at $262.04 after closing yesterday's trading day at $252.69 (up 3.7%). AT&T traded at $15.5 after closing yesterday's trading day at $15.15 (up 2.31%).

The stock has been trending positively for about 2 months. This year has been a bright one for the music streaming platform after trading as low as $71.05 and going on to appreciate by 86.26% year to date.