US stock indices has started the trading session in the red zone since today’s ISM Services PMI report is expected to be negative. Analysts expect the index to drop from 53,1 down to 52,2, which is the lowest level since Feb 2010.
The current market situation looks as follows:
· Standard & Poor's 500 is currently down by 0,26 5 to 1705,18.
· Dow Jones Industrial Average has lost 0,43%, thereby declining down to 15591,47.
· Nasdaq Composite is down by 0,15 and is currently trading around 3685,91.
Apple’s stock is up by 0,4% since President Obama has issued a veto on a potential ban for iPhone 4 and 3G-capable iPad 2 models in the United States. At the same time, Facebook’s stock is up by 2,2%, thereby exceeding the IPO price.
The chart below, courtesy of Masterforex-V Academy, reflects the current state of affairs in the market of Nasdaq 100:
