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February 22, 2023
- Midway through earnings season, Royal Bank Of Canada & Pure Storage, Inc. are in line to report next
- CoStar dips 5.89% lower as session gets underway;
- European markets are down as FTSE is currently down 0.87% and trading around 7,908.62.
The trading session has started and the leading indices are falling — S&P 500 drawing back 0.19% to 3,989.75. Nasdaq slipping 0.22% and closing at 11,467.
European markets have struggled to gain ground and are now trading lower midway through the session. Asia-Pacific markets are currently lower as trading gets underway.
Royal Bank Of Canada & Pure Storage, Inc. due to release their earnings reports within the following week.
While price action maintains a negative bias, 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.
Looking ahead, ongoing depreciation may be prolonged as as things stand, upcoming United States Crude Oil Inventories data is projected to fall short of market expectations with newly published data of 1.17 million, following on from the preceding figure of 16.28 million. New data is set to be published tomorrow at 16:00 UTC. United States Initial Jobless Claims expected to decline to 200,000 while its preceding data was 194,000, data will be available tomorrow at 13:30 UTC.
Furthermore, United States Core PCE Price Index (MoM) (Jan) scheduled to come out Friday.
While markets are generally down so far today, some assets outperformed such as Wix gained 15.18% to reach $93.14. Nordson (up 5.66%) is also performing well.
CoStar seems to be down today, losing 5.89% of its value.
Wix | +15.18% to start today's session
After closing the previous trading day at $80.87, Wix.com Ltd. is up to $93.14, which makes for a move of 15.18%/$12.27 today. The trading volume is at 938,887, 157% above the 21-day average of 598,899.
Wix is scheduled to announce earnings results today. The consensus Earnings Per Share estimate is -0.81 and the consensus revenue estimate is $343.33 million.
Looking back, the firm's board declared a dividend of 65 cents per share on Wednesday, February 8th for all shareholders on record up until Tuesday, February 21st. Based on current prices, the move allows shareholders to receive an annual dividend yield of 1.16% this year to be paid on Tuesday, March 7th.
