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May 17, 2023- Real Estate Select Sector SPDR Fund was the biggest decliner yesterday after giving up 2.67% As things stand, Utilities Select Sector SPDR Fund (down 2.22%) and iShares Trust – iShares iBonds Dec 2021 Term Treasury ETF (down 0.039%) are underperforming today
- European session in progress; markets are rising as FTSE has no obvious direction, trading at 7,755.23
A reminder of where yesterday ended before the next session begins: leading equity indices in the US declined as Dow Jones shed 1% and closed at 33,000. S&P 500 slipped 0.64% and closed at 4,110.
US markets are now currently closed and set to reopen today; meanwhile, European equity markets are currently seeing a boost in risk-on sentiment. Asia-Pacific markets ended a mixed session today whilst Nikkei improves to 30,100 (up 0.84%).
Kohl's Corporation & Splunk Inc due to release their earnings reports within the following week.
Market's down-tick coincides with some negative macro data published earlier as United States Retail Sales fell short of the 0.8% projections, with new data of 0.4%.
Markets are trading lower today despite some positive data published earlier as new Core Retail Sales data from United States matched market expectations with a reading of 0.4% — a positive step in contrast to previous data of -0.5% from last month.
Meanwhile, United States API Weekly Crude Oil Stock came out at 3.69 million, while a consensus of analysts was expecting -1.3 million.
Looking ahead, ongoing depreciation may be prolonged as today at 14:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to -920,000 from the preceding figure of 2.95 million.
In addition, United States Initial Jobless Claims is projected to outperform its last figure with 254,000, having previously been at 264,000. The figure will be published tomorrow at 12:30 UTC.
Furthermore, United States Philadelphia Fed Manufacturing Index (May) scheduled to come out tomorrow at 12:30 UTC.
Yesterday's bearishness meant that Real Estate Select Sector SPDR Fund lost 2.67% yesterday before closing at $36.03. Utilities Select Sector SPDR Fund (down 2.22%), iShares Trust – iShares iBonds Dec 2021 Term Treasury ETF (down 0.039%) also underperformed yesterday.
IShares Trust – iShares iBonds Dec 2021 Term Treasury ETF | Ended yesterday's session at $25.35
- Following a month of flat trade,
Yesterday's 2.67% loss extends a 5 day bearish run in which Real Estate Select Sector SPDR Fund had already lost 39 cents from its share value.
