Todays Economic Calendar (Eastern Time Zone):

Today’s Economic Calendar is light (unless something happens in the major headlines regarding Washington or Brazil)

9:15 AM – St. Louis Federal Reserve Bank President James Bullard Speaks

1:00 PM – Baker Hughes N. American Oil and Natural Gas Rigs Count

1:40 – San Francisco Federal Reserve Bank President John Williams Speaks

• Brazil Plumets – concerns of corruption by President Michel Temer of Brazil sent the Sao Paulo Exchange into a selling frenzy. After a drop in 10% trading was stopped as circuit breakers were tripped.
• IShares MSCI Brazil Capped (EWZ), the biggest U.S.-traded Brazil ETF, plummeted as much as 23% before ending the day with a 16% loss.
• BRICS ETF’s also fall 2%  – IShares MSCI Emerging Markets (EEM) fell and Vanguard FTSE Emerging Markets (VWO) both fell since Brazil represents the “B” in BRIC (Brazil, Russia, India, China).
• AutoDesk (ADSK) – was 10% higher in premarket trade, it received upgrades from RBC Capital and Bank of America following a solid first-quarter performance reported late Thursday.
• Applied Materials (AMAT)  – was almost 3% higher after reporting an across-the-board sales and earnings beat in its earnings report.
• Salesforce.com (CRM) – was up 2% before the open after a 16% earnings increase and a 25% revenue gain in its first quarter, both above analyst expectations.
• Home Depot (HD) reported first-quarter earnings that beat estimates, making it one of the few retailers that isn’t cracking under the weight of e-commerce
• Trump travels overseas – to visit Saudi Arabia and Israel as Iranians vote in the presidential elecions.
• Global Markets – Asian and world stocks held their ground, US futures rebounded overnight.
• The Dollar Continues to Fall – currently at 97.23. The yen gained on some safe-haven buying as Brazilian and US political scandals worry many.
• Crude Oil over $50 – investors are looking to Baker Hughes U.S. rig count data later today.

Market Sectors:

Yesterday most of the sectors were positive; the most bullish sectors were Technology (XLK) and Consumer Discretionary (XLY).

Currencies:

• The USD is currently at 97.20 –  down, down down…

• Bitcoin has resurged to $1,952 from yesterdays $1,815 

• Ethereum – currently at $113.01 – way up from yesterday’s $91.54; to learn more listen to Tackle Trading Podcast #216

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Hector Duenas Jr. started his trading journey during the height of the tech bubble in 2001 as part of the 90% that looses money in the stock market.

A Rich Dad conference in 2016 changed his life and now he writes the Morning Market Reports for Tackle Trading.

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