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May 23, 2023
The entertainment and content production company is sliding down from $91.82 to $90.07, taking a 1.91% loss as it nears the end of the session.
Walt Disney is currently trading at $90.07 following the release of Fed Chair Powell speech data from the United States.
Amid the market gloom, United States New Home Sales (Apr) came out at 683,000, while a consensus of analysts was expecting 663,000. United States Services PMI released today at 13:45 UTC with a figure of 55.1, while the previous figure was 53.6. United States Building Permits came out at 1.15 million, while a consensus of analysts was expecting 1.42 million.
As the trading day comes to an end, chart analysis indicates Walt Disney could begin to recover as it approaches significant support, now 43 cents away from $90.49. Dipping below could be an indication that further losses are ahead.
Walt Disney's stock value drop coincides with Alibaba is down to $82.82, losing 3.81%, after ending yesterday at $86.1. Starbucks is down to $100.34, losing 2.49%, after ending yesterday at $102.9.
Positive performances can be seen by looking at other consumer discretionary stocks as Lowe's is up 2.2%.
Looking ahead, ongoing depreciation may be prolonged as tomorrow 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 5 million.
Furthermore, United States FOMC Meeting Minutes is expected tomorrow at 18:00 UTC.
Having set a significant high of $124.96 9 months ago, the entertainment giant is trading 26.52% lower.
