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March 08, 2023
Yesterday at a glance: pronounced bearish sentiment in the market pushed the child-care provider into a notable 1.15% slide yesterday, falling 96 cents and ultimately closing at $82.56.
United States ADP Nonfarm Employment Change (Feb) is next today at 13:15 UTC.
Amid the market gloom, United States API Weekly Crude Oil Stock came out at -3.83 million, while a consensus of analysts was expecting -308,000. United States 3-Year Note Auction released yesterday at 18:00 UTC with a figure of 4.635, while the previous figure was 4.073.
Bright Horizons Family Solutions Inc. made an initial break below its 5 day Simple Moving Average at $82.88, a possible indication of a forthcoming negative trend. Despite this, Bright Horizons Family Solutions could begin to recover as it approaches significant support, now 69 cents away from $81.87. Dipping below could be an indication that further losses are ahead.
Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting Bright Horizons Family Solutions to extend its recent losses.
Bright Horizons Family Solutions was not the only decliner in the consumer discretionary sector; Home Depot closed at $290.7 (down 2.52%). Walt Disney dips 1.59% yesterday to close at $100.66. McDonald's drops 1.3% yesterday to close at $270.64.
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as today at 15:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to 395,000 from the preceding figure of 1.17 million.
Furthermore, United States ADP Nonfarm Employment Change (Feb) scheduled to come out today at 13:15 UTC. United States JOLTs Job Openings (Jan) is scheduled for today at 15:00 UTC.
The largest employer-sponsored child care provider has gained 25.2% since its lowest print of $55.75 earlier this year.
