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April 28, 2023
Yesterday at a glance: with a daily low of $89.12, iShares MSCI USA Value Factor ETF closed yesterday at $90.35, after ending Wednesday at $89.27 and gaining $1.08 (1.21%).
United States Core PCE Price Index (MoM) (Mar) is next today at 12:30 UTC.
IShares MSCI USA Value Factor ETF upside coincides with further encouraging market factors as data for United States Initial Jobless Claims published yesterday at 12:30 UTC came out at 230,000, beating projections of 248,000 and showing improvement over the preceding figure of 246,000.
Nevertheless, highly important Pending Home Sales data from United States beat analyst expectations of 0.5% with a reading of -5.2%. Data from United States concerning GDP was released yesterday at 12:30 UTC. Newly published figures emphasized continued decline from last month's figure of 2.6 to 1.1 this month.
IShares MSCI USA Value Factor ETF made an initial breakout above its 3 day Simple Moving Average at $90.38, a potential indicator of a newly emerging bullish phase. IShares MSCI USA Value Factor ETF's lower Bollinger Band® is at $89.7, indicating that the market is oversold and fertile for new buyers. On the other hand, note that iShares MSCI USA Value Factor ETF could be slowing down soon as it approaches resistance at $90.79. Of course, crossing it might suggest further gains are ahead.
With all probabilities considered, today's gains in iShares MSCI USA Value Factor ETF have only added further momentum to existing technical factors favoring greater bullish sentiment in the days to come.
Other markets are also showing gains as Meta Platforms is trading around $238.56 after ending yesterday's session at $209.4 (up 13.93% today). Comcast went up by 10.27% yesterday, and closed at $40.27.
At the same time, after ending yesterday's session at $161.8, AbbVie lost $12.93 and is trading around $148.87.
Furthermore, the market is looking at United States Core PCE Price Index (MoM) (Mar) is expected today at 12:30 UTC.
IShares MSCI USA Value Factor ETF is now trading 7.06% below its 3-month high of $103.63.
