Monday’s Big Selloff on NASDAQ Concerns Investors, US Futures Mixed

Wall Street produced a tough day of trading on Monday. Tax reform legislation will be signed in the U.S soon. Prime Minister Theresa May has Brexit problems within her governing coalition.

Investors Turn in Volatile Day, Tax Reform Factored into Market

U.S investors may have proven they have already factored the tax reform package into their trading results. As President Trump prepares to sign the tax legislation, Wall Street turned in a turbulent day of results on Monday. The NASDAQ lost more than 1 percent of value, but the Dow Jones Industrials did gain. The U.S Dollar has been firm early today. Trade Balance numbers will come from the States today.

Hang Seng and Nikkei Prove Difficult, Solid Services Data from China

The Hang Seng and Nikkei Indexes have declined today. Investors who were relying on bullish behavior from Wall Street to boost Asian market sentiment were disappointed. However, Services data for China was better than expected earlier today and Japanese inflation figures met their forecasts. The Yen has been stronger against the U.S Dollar.

Therese May’s Leadership in Trouble Again, Pound Remains in Focus

Once again Prime Minister Theresa May’s grip on power with her Tory-led coalition in the U.K is under the microscope. A late revolt by Northern Ireland politician within her government has led to concerns the Brexit negotiations are in jeopardy. The Pound has been choppy early today and will remain in focus. Construction PMI results from the U.K were positive on Monday.

U.S Crude Oil Remains Under Pressure, Crude Oil Sentiment Changing

U.S Crude Oil remains under pressure. After failing to break resistance late last week, the commodity has seen additional selling and appears to be experiencing a change in short-term sentiment. Crude Oil remains above 57.00 U.S Dollars a barrel.

U.S Trade Balance Results, Services Report for the States on Calendar

The U.S Trade Balance numbers will be a talking point upon their release at 13:30 GMT.

• 13:30 PM GMT U.S., Trade Balance
• 15:00 PM GMT U.S., ISM Non-Manufacturing PMI

Yaron Mazor is a senior analyst at SuperTraderTV.

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