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Trading day is at its midpoint and markets are up so far

06.06.2023

By Axiory Intelligence

Trading day is at its midpoint and markets are up so far

  • Market leader Thor Industries puts in stellar performance, gaining 15%; currently at $91.05
  • Top laggard NovoCure giving up $24.15, or 29.27%, so far this session
  • European equity markets are currently seeing a boost in risk-on sentiment.

The trading session is well on its way, markets are up as Nasdaq up to 13,275, gaining 0.34%. S&P 500 up 0.18%, trading at 4,281.63.

European markets are showing gains. Asia-Pacific markets are currently mixed so far this session.

Thor Industries, Inc. & Ciena Corporation have released their earnings reports with Oracle and HEXO Corp. are set to publish their respective reports as scheduled.

Today's rise takes place amid mixed market indicators — United States ISM Non-Manufacturing PMI (May) came out at 50.3, while a consensus of analysts was expecting 51.8. United States Services PMI released yesterday at 13:45 UTC with a figure of 54.9, while the previous figure was 53.6. Factory Orders in United States fell short of market expectations (1.1%) with a reading of 0.4%, continuing the decline from the previous figure of 0.6%.

Furthermore, the market is looking at as things stand, upcoming United States Crude Oil Inventories data is projected to fall short of market expectations with newly published data of 1.15 million, following on from the preceding figure of 4.49 million. New data is set to be published tomorrow at 14:30 UTC. Thursday data for United States Initial Jobless Claims will be released, with an expected decline to 238,000 from the preceding figure of 232,000.

Also worthy of note, United States EIA Short-Term Energy Outlook will be released today at 16:00 UTC.

While indices are generally bullish today, some individual assets stood out as Thor Industries trades at $91.05 having gained 15%.

NovoCure is now trading at $58.36, plunges 29.27%.

NovoCure | Currently down 29.27% at $58.36

  • Having set a significant low of $56.44 2 months ago, the oncology company is trading 46.19% higher.

The proprietor of TTFields therapy down by $24.15 (29.27%). This is the largest single day drop since Jan 9. So far this year, it has been doing worse than the Nasdaq by 0.04%. Currently, the proprietor of TTFields therapy has a market capitalization of $6.20 billion with an average daily trading volume of 822,251 shares. $122.18 million was NovoCure's last reported revenue with -50 cents being the current EPS.

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