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February 22, 2023
Bright Horizons Family Solutions is down to $78, after ending yesterday at $78.93. Overall, a 1.2% loss or 93 cents today.
United States FOMC Meeting Minutes is next today at 19:00 UTC.
Meanwhile, United States Existing Home Sales (Jan) came out at 4 million, while a consensus of analysts was expecting 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.
As the trading day commences, technical analysis suggests Bright Horizons Family Solutions Inc. could begin to recover as it approaches significant support, now 23 cents away from $77.75. Dipping below could be an indication that further losses are ahead.
In the meantime, negative performances are also seen in other consumer discretionary stocks as Alibaba is down to $93.68, losing 1.49%, after ending yesterday at $95.1. After closing the previous session (yesterday) at $84.51, Pinduoduo lost $2.48 and is trading around $82.03.
Positive performances can be seen by looking at other consumer discretionary stocks as Amazon gained 2.02%, currently at $96.49.
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as United States Crude Oil Inventories expected to decline to 1.17 million while its preceding data was 16.28 million, data will be available tomorrow at 16:00 UTC. Tomorrow at 13:30 UTC data for United States Initial Jobless Claims will be released, with an expected decline to 200,000 from the preceding figure of 194,000.
Furthermore, United States GDP is expected tomorrow at 13:30 UTC.
The largest employer-sponsored child care provider has managed to gain 20.05% so far this year despite trading at lows around $55.75 previously.
