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May 17, 2023
- Real Estate Select Sector SPDR Fund suffered relatively more than others yesterday after 2.67% dip As things stand, Utilities Select Sector SPDR Fund (down 2.22%) and iShares Trust – iShares iBonds Dec 2021 Term Treasury ETF (down 0.039%) are underperforming today
- Asia-Pacific markets are in session with varied performances.
Before today's session: leading equity indices in the US declined as Dow Jones shed 1% and closed at 33,000. S&P 500 was down 0.64% before closing the session at 4,110.
US markets are now currently closed and set to reopen today; meanwhile, Asia-Pacific markets are currently mixed so far this session. European markets were down yesterday as FTSE is currently down 0.34% and trading around 7,751.
3Rd quarter earnings season is mostly over, with Take-Two Interactive Software Inc & WalkMe Ltd. releasing their earnings reports just this week.
Market's down-tick coincides with some negative macro data published earlier as highly important Retail Sales data from United States beat analyst expectations of 0.8% with a reading of 0.4%.
Markets are trading lower today despite some positive data published earlier as new Core Retail Sales data from United States matched market expectations with a reading of 0.4% — a positive step in contrast to previous data of -0.5% from last month.
While price action maintains a negative bias, United States API Weekly Crude Oil Stock released yesterday at 20:30 UTC with a figure of 3.69 million, while the previous figure was 3.62 million.
Looking ahead, ongoing depreciation may be prolonged as today at 14:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to -920,000 from the preceding figure of 2.95 million.
In addition, United States Initial Jobless Claims is projected to outperform its last figure with 254,000. It previously stood at 264,000; data will be released tomorrow at 12:30 UTC.
Furthermore, United States Philadelphia Fed Manufacturing Index (May) is scheduled for tomorrow at 12:30 UTC.
Yesterday's bearishness meant that Real Estate Select Sector SPDR Fund lost 2.67% yesterday before closing at $36.03. Utilities Select Sector SPDR Fund (down 2.22%), iShares Trust – iShares iBonds Dec 2021 Term Treasury ETF (down 0.039%) also underperformed yesterday.
IShares Trust – iShares iBonds Dec 2021 Term Treasury ETF | Ended yesterday's session at $25.35
With around a month of flat trade under its belt, Pointing in a similar direction, yesterday's session was more of the same — iShares Trust – iShares iBonds Dec 2021 Term Treasury ETF moves 0.04% to close at $25.35 yesterday.
Continuing its a 5 day bearish run (-39 cents), Real Estate Select Sector SPDR Fund showed losses yesterday.
