- BridgeBio Pharma suffered relatively more than others yesterday after 11.59% dip Arrival had a negative day yesterday (down 9.32%).
- European markets have struggled to gain ground and are now trading lower midway through the session.
Yesterday's market activity meant that markets completed a mixed session yesterday while Nasdaq closed the day at 11,576, having gained 0.4%. After dropping 0.18%, Dow Jones closed at 32,800.
Trading in the US will continue today in around 4 hours time, meanwhile European markets are dropping as FTSE descends to 7,867.68 (down 0.78%). Asia-Pacific markets ended a mixed session today whilst Nikkei increases by 0.63%, reaching 28,623.
3Rd quarter earnings season is mostly over, with Asana, Inc. and ZIM Integrated Shipping Services Ltd. releasing their earnings reports just this week.
Ambiguous macro data is influencing the market as United States Crude Oil Inventories fell short of the 395,000 projections, with new data of -1.69 million. United States JOLTs Job Openings (Jan) came out at 10.82 million, while a consensus of analysts was expecting 10.5 million. United States ADP Nonfarm Employment Change (Feb) released yesterday at 13:15 UTC with a figure of 242,000, while the previous figure was 119,000.
Data to be released today might clear up some of the market fog as tomorrow at 13:30 UTC data for United States Non Farm Payrolls will be released, with an expected decline to 205,000 from the preceding figure of 517,000. United States Initial Jobless Claims projected to come out at 195,000 — worse than previous data of 190,000; data will be released today at 13:30 UTC. United States Unemployment Rate is expected tomorrow at 13:30 UTC.
While markets were generally sideways yesterday, these assets pulled ahead as Diversey up 37.48% trading at $8.18.
Despite lacklustre price action, some assets lagged behind their peers as BridgeBio Pharma lost 11.59% yesterday before closing at $16.4. Arrival had a negative day yesterday (down 9.32%).
Daily trading volume (72.39 million shares) was above the current multiday average of 3.80 million.
Daily trading volume (13.51 million shares) increased, making up 316% of the 21-day average (4.28 million).