In the U.S. technology index today, investors are focusing on the ADP private sector employment data and the highly anticipated speech by Federal Reserve Governor Christopher Waller. Strong employment figures could delay interest rate cut expectations, putting upward pressure on bond yields and, consequently, weighing on technology stocks. Governor Waller’s insights are particularly critical as they may provide clues regarding the future path of monetary policy, especially following the recent inflation impulses hitting the U.S. economy. Additionally, pending home sales data for April may serve as a further indicator of the strength of economic activity. In the technical outlook, while there have been attempts at upward moves, it is anticipated that selling pressure may continue to be felt.
