Without a clear-cut direction, Consumer Staples Select Sector SPDR Fund is trading around $73.72 and ranging between $73.39 and $73.85.
- New United States Crude Oil Inventories improved upon the previous 533,000 figure while also exceeding analyst expectations with a reading of 4.14 million.
- While flat so far today, Consumer Staples Select Sector SPDR Fund is on a 9 day bullish trend, gaining a total of $1.68 throughout.
United States Crude Oil Inventories came out at 4.14 million, better than analyst estimates of 376,000 and improving upon the previous reading of 533,000. United States JOLTs Job Openings (Dec) came out at 11 million, while a consensus of analysts was expecting 10.25 million.
Consumer Staples Select Sector SPDR Fund made an initial break below its 200 day Simple Moving Average at $73.56, a possible indication of a forthcoming negative trend. Despite this, Consumer Staples Select Sector SPDR Fund is climbing away and is now 55 cents from the $73.16 support line.
Despite the market lacking direction, technical chart analysis strongly suggests Consumer Staples Select Sector SPDR Fund is positioned for a downward move in the near term.
Tomorrow at 13:30 UTC data for United States Initial Jobless Claims will be released, with an expected decline to 200,000 from the preceding figure of 186,000. United States Interest Rate is expected today at 19:00 UTC.
Stryker skyrockets 7% to trade around $271.54. Novartis is trading around $87.48 (down $3.14). After ending yesterday's session at $65.37, Astrazeneca PLC lost $2.1 and is trading around $63.27.
Consumer Staples Select Sector SPDR Fund hit a significant low of $66.5 around 3 months ago, but has since recovered 10.89%.