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Nasdaq 100 futures still in the red as US data and Fed loom

Yesterday the Nasdaq 100 was the worst performing index on Wall Street, as noted here much earlier today. The index future is still pricing a lower opening right now too. The important US data releases due today are very much in focus ahead of the Fed this evening. The first of those is the April ADP, privately sourced monthly payroll report, at 12.15pm GMT. That is expected to show another healthy increase of around 180k (184k in March). Then at 2pm GMT we get the April ISM manufacturing index (forecast to drop slightly, to 50 from 50.3). Also out at 2pm GMT is the March JOLTS (Job openings) report (expected to fall slightly, to around 8.69 million, from 8.756 million). As far as the ISM index is concerned, the prices paid component will be important, as it was the jump in prices last month that really rattled the cage. That is expected to remain elevated and close to the 55.8 number seen last time. So, with US yields still elevated it might be important for Nasdaq  traction, that those yields do not rise even more. There will be more to add on the Fed much later this afternoon ahead of the decision. Meantime, the Nasdaq 100 futures are currently at session lows, pricing the reopening at around 17,315, from a close yesterday at 17,440 
 

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