A quick look at yesterday: iShares MSCI USA Value Factor ETF slid into the red after losing 99 cents and ending the session at $97.08.
Initial Jobless Claims data from United States will be released today at 13:30 UTC with analysts expecting a decline to 190,000. Potentially significant price fluctuations in iShares MSCI USA Value Factor ETF are expected to follow.
Data from United States concerning Crude Oil Inventories was released yesterday at 15:30 UTC. Newly published figures emphasized continued decline from last month's figure of 4.14 million to 2.42 million this month.
Amid the market gloom, United States 10-Year Note Auction released yesterday at 18:01 UTC with a figure of 3.613, while the previous figure was 3.575. Fresh Cushing Crude Oil Inventories data from United States came out at 1 million.
Despite being in the red so far in the current trading session, iShares MSCI USA Value Factor ETF peaked above its 10 day Simple Moving Average around $97.6 — typically an early indicator of a new bullish trend beginning to emerge. IShares MSCI USA Value Factor ETF could begin to recover as it approaches significant support, now 12 cents away from $96.96. Dipping below could be an indication that further losses are ahead.
Overall, looking at the technical analysis landscape, it seems iShares MSCI USA Value Factor ETF might start pointing upward in the short term.
In the meantime, negative performances are also seen in other markets, Alphabet is down to $100, losing $8.04, after ending the previous session around $108.04. Meta Platforms drops 4.27% yesterday and closed at $191.62.
Positive performances can be seen by looking at other markets as CVS Health soars 3.47% yesterday and closed at $86.
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as United States Initial Jobless Claims expected to decline to 190,000 while its preceding data was 183,000, data will be available today at 13:30 UTC.
This year has been a bright one for iShares MSCI USA Value Factor ETF after trading as low as $81.86 and going on to appreciate by 7.59% year to date.