Read this before you start trading today!

  • US indices finished yesterday’s trading lower as tech sector slumped. S&P 500 dropped 1.04%, Dow Jones declined 0.10%, Nasdaq slumped 2.55% and Russell 2000 closed 2.59% lower

  • Stocks in Asia followed into footsteps of their US peers and moved lower. Nikkei plunged over 3%, S&P/ASX 200 moved 1% lower while Kospi dropped 1.6%. Indices from China traded lower as well

  • DAX futures point to a lower opening of the European session

  • US regulator authorized Pfizer vaccine for use in 12-15 age group

  • Fed’s Kaplan repeated that it is better to begin taper discussion sooner rather than later

  • Politico reports that Republican Senators could accept higher infrastructure spending than previously announced $568 billion Republican bill

  • Japanese household spending increased 6.2% YoY in March (exp. +1.5% YoY)

  • New Zealand’s retail card spending increased 4% MoM in April

  • Chinese CPI inflation accelerated from 0.4% to 0.9% YoY in April (exp. 1% YoY). PPI inflation accelerated from 4.4% to 6.8% YoY (exp. 6.6% YoY)

  • South Korean exports jumped 81.2% YoY during the first 10 days of May while imports were 51.5% YoY higher. Semiconductor exports increased 51.9% YoY

  • Precious metals trade slightly higher. Oil and agricultural goods pull back. Industrial metals advance

  • EUR and CAD are the best performing major currencies while CHF, JPY and USD lag the most

US100 plunged yesterday as tech shares sold off. Index dropped over 2.5% yesterday and the downward move is being continued today. US100 broke below the support zone at 38.2% retracement and trades at the lowest level since the beginning of April.