| 
March 07, 2023
IShares MSCI USA Value Factor ETF is down to $94.02, after ending yesterday at $95.1. Overall, a 1.14% loss or $1.08 today.
United States EIA Short-Term Energy Outlook is next today at 17:00 UTC.
Meanwhile, data for United States Factory Orders released yesterday at 15:00 UTC is better than expected with -1.6%, but worse than previous figure of 1.7%.
Bollinger Bands® shows an indication of recovery: the lower band is at $92.65, a low enough level to, generally, suggest that iShares MSCI USA Value Factor ETF is trading below its fair value.
Overall, looking at the technical analysis landscape, it seems iShares MSCI USA Value Factor ETF might start pointing upward in the short term.
In the meantime, negative performances are also seen in other markets, Wells Fargo & Company is trading around $44.78 (down $1.85). Pfizer is down to $40.23, losing 87.75 cents, after closing at $41.11 in the preceding trading session. CVS Health closed at $80.66 (down 2.78%).
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as tomorrow at 15:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to -308,000 from the preceding figure of 1.17 million.
Furthermore, United States ADP Nonfarm Employment Change (Feb) scheduled to come out tomorrow at 13:15 UTC. United States JOLTs Job Openings (Jan) is expected tomorrow at 15:00 UTC.
The fund has been trending lower for about a month. After hitting an important low of $81.86 approximately 5 months ago, iShares MSCI USA Value Factor ETF has bounced back 16.17% since.
