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May 30, 2023
A quick look at Friday: iShares iBoxx $ Investment Grade Corporate Bond ETF closed Friday at $106.47 (with a daily low of $105.96) after ending Thursday at $106 and gaining 0.42%.
United States Consumer Confidence data will be released today at 14:00 UTC, with an expected decline to 99.
IShares iBoxx $ Investment Grade Corporate Bond ETF made an initial breakout above its 5 day Simple Moving Average at $106.47, a potential indicator of a newly emerging bullish phase. On the other hand, note that iShares iBoxx $ Investment Grade Corporate Bond ETF is 20 cents away from testing key resistance at $106.67. Peaking above this level could inspire market bulls and open the path to further gains.
Overall, looking at the technical analysis landscape, it seems iShares iBoxx $ Investment Grade Corporate Bond ETF might continue pointing upwards in the short term.
Other markets are also showing gains as Costco is trading around $507.26 after ending Friday's session at $486.55 (up 4.26% today). Intel went up by 5.84% Friday, and closed at $29. Netflix went up by 5.54% Friday, and closed at $378.88.
Furthermore, the market is looking at today at 14:00 UTC data for United States Consumer Confidence will be released, with an expected decline to 99 from the preceding figure of 101.3.
Furthermore, the market is looking at United States JOLTs Job Openings (Apr) is scheduled for tomorrow at 14:00 UTC.
IShares iBoxx $ Investment Grade Corporate Bond ETF hit a significant low of $99.2 around 7 months ago, but has since recovered 6.87%.
