NewsWare’s Trade Talk: Tuesday, May 24

S&P Futures are moving lower as a bearish sentiment returns to the markets. There are two economic data reports due out today (U.S. new-home sales data and gauges of U.S. manufacturing activity). Also, Fed Chairman Jerome Powell is scheduled to speak today. The technology sector is poised to drag the market down this morning. Shares of SNAP ignited the selling pressure after the company issued a negative forecast on its Q2 revenue. SNAP is trading lower this morning by 29% this morning and is weighing on other tech companies that rely on advertising as a revenue stream.