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May 11, 2023
Opendoor Technologies Inc. rallied to $2.66 for the first time in 3 months (gaining 5 cents). It later dropped, erased yesterday’s gains and closed at $2.1.
United States Producer Price Index data will be released today at 12:30 UTC, with an expected improvement to 0.3%. Opendoor Technologies Inc reaction to indicator information will follow.
This down-slide takes place while positive United States macroeconomics indicators data was published earlier – highly important Crude Oil Inventories data from United States beat analyst expectations of -917,000 with a reading of 2.95 million.
While price action maintains a negative bias, United States Consumer Price Index came out at 4.9%, while a consensus of analysts was expecting 5%. United States Core Consumer Prices released yesterday at 12:30 UTC with a figure of 0.4%, while the previous figure was 0.4%.
On the other hand, positive performances could be seen by looking at other real estate stocks as ProLogis gained 1.72%, as it traded at $128.08.
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as as things stand, upcoming United States Initial Jobless Claims data is projected to fall short of market expectations with newly published data of 245,000, following on from the preceding figure of 242,000. New data is set to be published today at 12:30 UTC.
Moreover, United States Producer Price Index is projected to outperform its last figure with 0.3%. It previously stood at -0.5%; data will be released today at 12:30 UTC.
Over the past 11 months, the online residential real estate company has retreated 73.16% from a noteworthy peak of $8.
