After three sombre days of declines, News Corp was up 0.75% today

Today at a glance: pronounced bullish sentiment in the market helped the media giant to make a notable 0.75% gain today, rising 13 cents and ultimately closing at $17.4.

United States's Crude Oil Inventories new data released of -4.58 million below its previous figure.

On the flip side, United States Crude Oil Inventories fell short of the -1 million projections, with new data of -4.58 million.

Meanwhile, United States Building Permits (Mar) released yesterday at 12:30 UTC with a figure of 1.41 million, while the previous figure was 1.55 million. United States 20-Year Bond Auction released today at 17:00 UTC with a figure of 3.92, while the previous figure was 3.909.

News Corp made an initial breakout above its 200 day Simple Moving Average at $17.43, a potential indicator of a newly emerging bullish phase. In contrast, News Corp could be slowing down soon; it is getting close to the resistance line and is now at $17.42, only 2 cents away. Crossing the resistance line could, however, suggest that further gains are ahead.

Following today's unexpected gains, extensive multifactorial technical analysis forecasts News Corp to buck against its prevailing downtrend and begin to turn higher in the short term. With all probabilities considered, the the mass media and publishing company is expected to pick up significant bullish sentiment in the coming days.

News Corp went up today, yet these communication services stocks did not follow — Netflix went down to $323.12, losing 3.17% after it closed at $333.7 today. Verizon closed at $38.6 (down 0.87%). Meta Platforms lost 1% today and closed at $215.7.

Furthermore, the market is looking at projections for United States Initial Jobless Claims are set for a continuation of decline with 240,000 while previous data was 239,000; data will be released tomorrow at 12:30 UTC.

Also worthy of note, United States Philadelphia Fed Manufacturing Index (Apr) scheduled to come out tomorrow at 12:30 UTC. United States Existing Home Sales (Mar) is scheduled for tomorrow at 14:00 UTC.

The stock has been trending positively for about a month. The mass media and publishing company has shed 8.48% over the past three months.