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February 22, 2023
A quick look at yesterday: the US tech hardware giant hovered around the $86.2 level after closing Friday at $87.28 and shedding 1.24%, as it reached reached yesterday's session close.
United States FOMC Meeting Minutes is next today at 19:00 UTC.
Meanwhile, United States Existing Home Sales (Jan) released yesterday at 15:00 UTC with a figure of 4 million, while the previous figure was 4 million. United States 2-Year Note Auction released yesterday at 18:00 UTC with a figure of 4.673, while the previous figure was 4.139. United States Existing Home Sales released earlier showed a marked improvement to -0.7% from the preceding data of -2.2%, but fell short of the 2% figure forecast by a consensus of market analysts.
Oracle was not the only decliner in the technology sector; Intel dips 5.61% yesterday to close at $27.61. Accenture plc Class A (Ireland) closed at $269.15 (down 2.85%). IBM lost 2.45% yesterday and closed at $131.71.
Looking ahead, ongoing depreciation may be prolonged as United States Crude Oil Inventories projected to decline to 1.17 million while previous data was 16.28 million; data will be released tomorrow at 16:00 UTC. As things stand, upcoming United States Initial Jobless Claims data is projected to fall short of market expectations with newly published data of 200,000, following on from the preceding figure of 194,000. New data is set to be published tomorrow at 13:30 UTC.
Furthermore, United States GDP is expected tomorrow at 13:30 UTC.
The stock has been trending positively for about 4 months. Oracle hit a significant low of $61.07 around 4 months ago, but has since recovered 42.92%.
