Today at a glance: Financial Select Sector SPDR Fund closed today at $32.1 (with a daily low of $31.73) after ending yesterday at $31.76 and gaining 1.07%.
New United States Crude Oil Inventories improved upon the previous -12.46 million figure while also exceeding analyst expectations with a reading of 4.49 million.
Uptick comes while some more positive signs for Financial Select Sector SPDR Fund are out as highly important Crude Oil Inventories data from United States beat analyst expectations of -1.10 million with a reading of 4.49 million. United States Initial Jobless Claims released today at 12:30 UTC is better than expected at 232,000 but down from preceding data of 230,000 according to new data.
At the same time, United States ISM Manufacturing PMI (May) came out at 46.9, while a consensus of analysts was expecting 47.
Trend analysis indicates that Financial Select Sector SPDR Fund made an initial breakout above its 21 day Simple Moving Average at $32.16, a potential indicator of a newly emerging bullish phase. Asset volatility analysis shows that Financial Select Sector SPDR Fund's upper Bollinger Band® is at $32.77, this is a slight indication of a slowdown. Technical chart analysis shows Financial Select Sector SPDR Fund broke through the $31.97 resistance, climbing 13 cents above it.
All in all, the technical analysis suggests Financial Select Sector SPDR Fund has no clear-cut direction.
Other markets are also showing gains as Toyota went up by 3.32% today, and closed at $140.65. Alibaba jumps 4.34% today and closed at $79.55.
Meanwhile, after ending today's session at $137.96, AbbVie lost $4.52 and is trading around $133.44.
Also worthy of note, tomorrow at 12:30 UTC data for United States Non Farm Payrolls will be released, with an expected decline to 180,000 from the preceding figure of 253,000. Tomorrow at 12:30 UTC data for United States Average Hourly Earnings will be released, with an expected decline to 0.4% from the preceding figure of 0.5%. Tomorrow at 12:30 UTC data for United States Unemployment Rate will be released, with an expected decline to 3.5 from the preceding figure of 3.4.
All in all, the fund has been on a negative trend for around a month. Financial Select Sector SPDR Fund has fallen back around 14.16% from the significant high of $37 set 3 months ago.