Dropping for six consecutive days, Bright Horizons Family Solutions closes at $92 (down 0.41%)

A quick look at yesterday: a tough session dominated by bearish sentiment left Bright Horizons Family Solutions 40 cents lower, while setting a $90.82 to $92.28 session range.

United States Fed Chair Powell testimony is next today at 14:00 UTC.

United States Initial Jobless Claims fell short of the 260,000 projections, with new data of 264,000.

Amid the market gloom, United States Current Account (Q1) released today at 12:30 UTC with a figure of -219.3 billion, while the previous figure was -216.2 billion. United States API Weekly Crude Oil Stock came out at -1.25 million, while a consensus of analysts was expecting -433,000.

The MACD index is indicating that momentum is shifting from bullish to bearish following a negative crossover. When the MACD falls below the signal line, it is typically considered to be a bearish development favoring short positions. On the other hand, note that although Bright Horizons Family Solutions is down today and was as low as $90.82, it seems to be recovering slightly and climbing away from the $91.09 support line and is now 93 cents above it.

In the short term, Bright Horizons Family Solutions is expected to maintain its recent downtrend and continue spiralling lower.

Bright Horizons Family Solutions was not the only decliner in the consumer discretionary sector; Tesla went down to $259.46, losing 5.46% after it closed at $274.45 yesterday. Walt Disney lost 1.24% yesterday and closed at $88.64. Alibaba retreats 1.32% yesterday to close at $87.93.

With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as as things stand, upcoming United States Crude Oil Inventories data is projected to fall short of market expectations with newly published data of 1.87 million, following on from the preceding figure of 7.92 million. New data is set to be published today at 15:00 UTC.

Furthermore, United States Services PMI figure is projected at 54. It previously stood at 54.9; data will be released tomorrow at 13:45 UTC. United States Existing Home Sales (May) scheduled to come out today at 14:00 UTC.

Having set a significant high of $94.66 9 days ago, the largest employer-sponsored child care provider is trading 2.39% lower.