Get ready for another busy day.
Donald Trump has become the presumptive Republican presidential nominee in the U.S. after Ted Cruz dropped out of the race for the White House.
Wall Street reaction to the latest political events has been muted, but there's still plenty of other things that could move markets.
Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1. Dollar rebound continues
1. Dollar rebound continues
The dollar recovered on Wednesday from multi-month lows, while waiting for the aforementioned economic reports.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.20% at 93.21, at 10:01AM GMT, or 6:01AM.
The index had hit a low of 91.89 on Tuesday, the weakest level since January 2015.
2. Eyes on ADP data ahead of Friday’s NFP
2. Eyes on ADP data ahead of Friday’s NFP
Investors awaited the publication on Wednesday at 12:30GMT, or 8:30AM ET, of the ADP nonfarm employment change for April as a precursor to the government’s nonfarm payrolls (NFP) on Friday.
In a busy economic calendar day stateside, first quarter non-farm productivity will be released at the same time.
Then at 14:00GMT, or 10:00AM ET, market players will digest the ISM non-manufacturing purchasing managers’ index (PMI) for April and March factory orders.
3. Earnings
3. Earnings
A slew of quarterly results are coming through on Wednesday. Anheuser-Busch InBev (AHBIF), Priceline (PCLN, Tech30), Adidas (ADDYY) and Royal Dutch Shell (RDSA) are among the key companies reporting ahead of the open. Time Warner (TWX), which owns CNN, is also reporting in the morning.
After the close of trading, a range of other companies are reporting results, including Tesla (TSLA), 21st Century Fox (FOX), Fitbit (FIT), Kraft Heinz (KHC), Marathon Oil (MRO), TripAdvisor (TRIP), Weight Watchers (WTW), Whole Foods (WFM) and Tribune Publishing (TPUB).
4. Global overview and yesterday’s recap
4. Global overview and yesterday’s recap
There's a lot of red in the markets this morning.
U.S. stock futures are dipping down, most European markets are slipping in early trading and Asian markets ended the day with small losses.
This comes as most commodity prices are also declining.
Tuesday was a negative day for stocks.
The Dow Jones industrial average dropped 0.8%, the S&P 500 tumbled by 0.9% and the Nasdaq fell by 1.1%.
