News Corp records flat yesterday on the back of 6th straight day of declines

Yesterday at a glance: News Corp moves 0.06% to close at $15.92 yesterday.

United States Building Permits (Feb) is next today at 12:30 UTC.

The Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored.

Despite the market lacking direction, technical chart analysis strongly suggests News Corp is positioned for a downward move in the near term.

Meanwhile, mixed performances were seen by other communication services stocks as Alphabet traded at $96.55 after closing yesterday's trading day at $94.25 (up 2.44%). Netflix was up 3%. Meta Platforms was up 1.92%.

Data to be released today might clear up some of the market fog as United States Philadelphia Fed Manufacturing Index (Mar) is expected today at 12:30 UTC. United States Initial Jobless Claims is projected to outperform its last figure with 205,000. It previously stood at 211,000; data will be released today at 12:30 UTC. United States Building Permits (Feb) will be released today at 12:30 UTC.

Trending downwards for around a month. So far this year, the mass media and publishing company has declined 14.51% while touching highs around $22.96 earlier this year.