U.S. stock futures are slipping, global indexes are in the red and oil's rally appears to have stalled.
Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1. Stocks rally stopped
1. Stocks rally stopped
The S&P 500 is flirting with all-time highs, having gone 43 days without a major dip. The index is roughly 0.7% away from the key 2,134.72 points level. If it gets above that, the index will set a new record -- its first in more than a year.
The Nasdaq is nearing the 5,000 mark for the first time in 2016 - although it's not tech stocks driving the rally.
The index closed just under 4,975 points on Wednesday, adding 13 points. It has surged nearly 20% since hitting a 52-week low in February. The last time it was above 5,000 was on December 31.
2. U.S. dollar rebounds
2. U.S. dollar rebounds
The U.S. dollar pushed higher on Thursday, after falling to five-week lows against a basket of currencies in the prior session amid diminished expectations for a Federal Reserve summer rate hike.
The dollar index rose 0.2% to 93.78 after dropping to 93.41 on Wednesday, a level not seen since May 6.
Investors all but ruled out a rate hike at the Fed’s June 14-15 meeting after U.S. employment data last week showed the economy added just 38,000 jobs last month, the smallest increase since September 2010.
3. ECB’s Draghi warning
3. ECB’s Draghi warning
Speaking in the Brussels Economic Forum, European Central Bank President Mario Draghi brought home the disconnect between monetary and fiscal policy and insisted that governments needed to do more to support the euro zone economy.
Draghi promised that the ECB would not undershoot its inflation objection for longer than is avoidable, but urged others to ensure that “output is returned to potential before subpar growth causes lasting damage.”
4. Markets overview
4. Markets overview
European markets are all in the red in early trading. Markets across China and Hong Kong were closed on Thursday because of a holiday. Other Asian markets ended the session down.
On Wednesday, the Dow Jones industrial average ended up 0.4%, while the Nasdaq gained 0.3%. The S&P 500 added 0.3%.
