A quick look at yesterday: the S&P slid into the red after losing 79.43 points and ending the session at 3,748.57.
United States Core Consumer Prices is next today at 13:30 UTC.
On the flip side, United States Crude Oil Inventories came out at 3.92 million, better than analyst estimates of 1.36 million and improving upon the previous reading of -3.12 million.
Meanwhile, United States 10-Year Note Auction released yesterday at 18:00 UTC with a figure of 4.14, while the previous figure was 3.93. United States Cushing Crude Oil Inventories came out at -923,000.
S&P 500 made an initial break below its 50 day Simple Moving Average at 3,795.81, a possible indication of a forthcoming negative trend. On the other hand, note that the S&P 500 could begin to recover as it approaches significant support, now 26.11 points away from 3,722.46. Dipping below could be an indication that further losses are ahead.
Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting the S&P to extend its recent losses.
In the meantime, negative performances are also seen in other markets, after ending yesterday's session at 33,161, Dow Jones lost 660.83 points and is trading around 32,500. Nasdaq dips 2.48% yesterday and closed at 10,616. Hang Seng is down to 16,081, losing 277.48 points, after ending the previous session around 16,359.
Furthermore, United States Consumer Price Index is expected today at 13:30 UTC. United States Core Consumer Prices is expected today at 13:30 UTC. United States Consumer Price Index is expected today at 13:30 UTC.
Having set a significant high of 4,796.56 29 days ago, the S&P is trading 7% lower.