Questions to be asked ahead of the US opening for the Nasdaq 100

As the dust settles on the immediate reactions to the US data this afternoon, we can see the USD/JPY is now coming off the boil a bit and the US equity futures did not exactly charge higher on the data. Perhaps we have to remember that US GDP is not the reason why the US stock markets are falling back this week and maybe this data, good as it is, may only provide a brief respite when live stock market trading resumes? That remains to be seen, as does the positive reaction in the USD/JPY to a lesser degree. The stock markets are clearly correcting what was an unsustainable rally, given the current valuations and latest earrings reports- all the good news was priced in and that probably includes this GDP data too. We shall see on that as the afternoon unfolds and it will be interesting to see how the Nasdaq 100 fares in particular, as of course that has been leading the downside all this week. The index is currently priced to reopen around 19,065