Today at a glance: an influx of sellers pushed the water heater manufacturer to session lows around $67.59 while establishing a $67.59 to $68.75 session range today.

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

Crude Oil Inventories in United States fell short of market expectations (-1 million) with a reading of -4.58 million, continuing the decline from the previous figure of 597,000.

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. Fresh 20-Year Bond Auction data from United States came out at 3.92.

A. O. Smith Corp made an initial break below its 3 day Simple Moving Average at $67.74, a possible indication of a forthcoming negative trend. A. O. Smith is currently flirting with an active Fibonacci support level around $68.08. A. O. Smith's upper Bollinger Band® is at $69.71 which indicates a further downward move may follow. In contrast, A. O. Smith could begin to recover as it approaches significant support, now 8 cents away from $67.96. Dipping below could be an indication that further losses are ahead.

Several technical indicators are adding weight to the bearish momentum seen today and forecasting A. O. Smith to extend its recent losses.

A. O. Smith was not the only decliner in the industrials sector; Lockheed Martin lost 1.25% today and closed at $495.16.

On the other hand, positive performances could be seen by looking at other industrials stocks as United Parcel Service added 0.98% to its value, and traded at $196.03. Union Pacific traded at $202 after closing today's trading day at $199.47 (up 1.27%).

With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as United States Initial Jobless Claims expected to decline to 240,000 while its preceding data was 239,000, data will be available tomorrow at 12:30 UTC.

Furthermore, United States Philadelphia Fed Manufacturing Index (Apr) is expected tomorrow at 12:30 UTC. United States Existing Home Sales (Mar) is scheduled for tomorrow at 14:00 UTC.

Having set a significant low of $48.58 6 months ago, the water heater manufacturer is trading 41.09% higher.