Ford Motors trades up 20 cents, approximately 1.61% higher going into close in a hour time

After closing yesterday at $11.8, the US auto giant spiked to $12.09 before giving back its gains and closing the session at $12.

Ford is currently trading at $12 following the release of FOMC Press Conference data from the United States.

On the flip side, United States Crude Oil Inventories released earlier showed a marked improvement to -1.28 million from the preceding data of -5 million, but fell short of the -1.1 million figure forecast by a consensus of market analysts.

At the same time, United States Interest Rate released today at 18:00 UTC with a figure of 5.25, while the previous figure was five. United States ISM Non-Manufacturing PMI (Apr) came out at 51.9, while a consensus of analysts was expecting 51.8.

Despite posting gains so far today, Ford Motor Co slid below its 10 day Simple Moving Average at $11.87 in earlier trade — an early indicator that a negative trend could be emerging. Ford Motors could be slowing down soon as it approaches resistance at $12.28. Of course, crossing it might suggest further gains are ahead.

Ford Motors is likely to reverse course and start pointing downward in the short term.

This rally in Ford Motors's share price coincides with other consumer discretionary stocks as Walt Disney is trading at $102.46 after ending yesterday's session at $100.6 (up 1.85%). Amazon is up 1.84%.

While Ford is higher so far today, these consumer discretionary stocks are struggling: Starbucks is down to $105.36, losing 7.95%, after ending yesterday at $114.46.

Furthermore, the market is looking at United States Initial Jobless Claims projected to decline to 240,000 while previous data was 230,000; data will be released tomorrow at 12:30 UTC.

The US automaker is now trading 17.6% below its 3-month high of $16.43.