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June 28, 2023
- Coinbase gains 12.84% as the top gainer; currently at $69.89
- Top laggard WBA gave up $2.95, or 9.34% yesterday
- European markets are trending positively as CAC added 0.67% to trade at 7,264.2.
Ahead of today's session: markets closed higher yesterday; Nasdaq gained 1.65% and closed at 13,556. S&P 500 closed the day at 4,378.41, having gained 1.15%.
US markets are set to open today in around 5 hours. In the meantime, European session in progress; markets are rising as CAC is up by 0.67%, hitting 7,264.2. Asia-Pacific markets ended a mixed session today whilst Nikkei is up by 2.02%, hitting 33,200.
The earnings season is coming to an end and General Mills Inc & BlackBerry Limited have release their reports.
Uptick coincides with some positive signs published earlier as United States Consumer Confidence improved upon its previous reading of 102.5 with a new data release of 109.7. Data for United States Core Durable Goods Orders published yesterday at 12:30 UTC came out at 0.6%, beating projections of -0.1% and showing improvement over the preceding figure of -0.6%.
Today's rise takes place amid mixed market indicators — United States New Home Sales (May) released yesterday at 14:00 UTC with a figure of 763,000, while the previous figure was 680,000.
Yesterday's gains have given market bulls further impetus to expect strong macro data going forward, such as United States Crude Oil Inventories is projected to outperform its last figure with -1.76 million, having previously been at -3.83 million. The figure will be published today at 14:30 UTC.
Furthermore, the market is looking at as things stand, upcoming United States GDP data is projected to fall short of market expectations with newly published data of 1.4, following on from the preceding figure of 2.6. New data is set to be published tomorrow at 12:30 UTC. Tomorrow at 12:30 UTC data for United States Initial Jobless Claims will be released, with an expected decline to 266,000 from the preceding figure of 264,000.
While most assets did well yesterday, some did better than others as Coinbase trades at $69.89 having gained 12.84%. Liberty Broadband A (up 8.13%) is also performing well.
Yesterday's bullishness contained stragglers as WBA closed at $28.64 having dropped 9.34%.
Coinbase | Up 12.84% to $69.89 yesterday
- The past 6 months have been positive for the crypto exchange platform as it appreciated 150.77%, having traded as low as $32.53.
The crypto exchange spearhead traded at $69.89 yesterday, after making its biggest single-day jump of $7.95 (12.84%) since May 30. So far this year, it has been outperforming the Nasdaq by 117.72%. The company has a market cap of $16.39 billion with an average daily volume of 17.26 million shares. $736.40 million was Coinbase's last reported revenue with 15 cents being the current EPS.
WBA | -9.34% at $28.64
WBA's bearish run has lasted 7 days so far (-$1.08). Yesterday's session continued down the same path: after ending Monday at $31.59, WBA dropped to $28.14 early in yesterday's session and closed at $28.64. In total, it lost 9.34%. Daily trading volume (46.66 million shares) increased, making up 453% of the 21-day average (10.30 million). WBA disclosed a quarterly dividend of 48 cents per share on Thursday, April 20th that was paid on Monday, June 12th to all shareholders of record up until Friday, May 19th. Based on current prices, the company's decision thereby provides WBA investors with an annual dividend yield of 6.7%.
