A quick look at yesterday: after dipping down to $32.47, Leggett & Platt regained earlier losses and closed at $32.82.
United States Building Permits (Sep) is next today at 12:30 UTC.
Meanwhile, United States API Weekly Crude Oil Stock released yesterday at 20:30 UTC with a figure of -1.27 million, while the previous figure was 7 million. United States TIC Net Long-Term Transactions (Aug) came out at 197.9 billion, while a consensus of analysts was expecting 28.2 billion. United States Industrial Production beat the 0.1% projections, with 0.4%.
The MACD index is indicating that momentum is shifting from bearish to bullish following a positive crossover. When the MACD rises above the signal line, it is typically considered to be a bullish development favoring long positions. On the other hand, note that although Leggett & Platt is appreciating today after rising as high as $33.51, price action is now slowing and consolidating around 57 cents below the $33.39 resistance level.
Overall, looking at the technical analysis landscape, it seems Leggett & Platt might continue pointing upwards in the short term.
A look at other consumer discretionary stocks also showed bullish price action as Amazon was up 2.26%. McDonald's traded at $249.19 after closing yesterday's trading day at $246.48 (up 1.1%).
While Leggett & Platt was bullish yesterday, the following consumer discretionary stocks underperformed: Toyota went down 1.4%, closed at $136.16.
Also worthy of note, United States Crude Oil Inventories projected to decline to 1.38 million while previous data was 9.88 million; data will be released today at 14:30 UTC.
Furthermore, the market is looking at United States Philadelphia Fed Manufacturing Index (Oct) is scheduled for tomorrow at 12:30 UTC. United States Existing Home Sales (Sep) is expected tomorrow at 14:00 UTC.
Leggett & Platt hit a significant low of $31.91 around 5 days ago, but has since recovered 1.94%.