Markets have no obvious direction as trading sees the middle of session

• Direxion Daily Semiconductor Bear 3x Shares tumbles 17.93% by midday IShares Trust – iShares iBonds Dec 2021 Term Treasury ETF (down 0.039%) has also underperformed today.
• European markets are dropping as FTSE is down by 0.74%, draws back to 7,571

With the trading session well underway, markets are mixed with Nasdaq up to 12,681, gaining 1.58%. S&P 500 goes up 0.67%, trading at 4,143.

European markets have struggled to gain ground and are now trading lower midway through the session. Asia-Pacific markets are currently mixed so far this session.

Royal Bank Of Canada & RH have released their earnings reports with Five Below, Inc. & Asana, Inc. are set to publish their respective reports as scheduled.

This limbo state is reflected by market data published as United States Pending Home Sales released earlier showed a marked improvement to 0% from the preceding data of -5.2%, but fell short of the 0.5% figure forecast by a consensus of market analysts. Highly important GDP data from United States beat analyst expectations of 1.1 with a reading of 1.3. Highly important Initial Jobless Claims data from United States beat analyst expectations of 250,000 with a reading of 229,000.

Data to be released later is expected to clarify investor sentiment while boosting price action volatility as tomorrow at 12:30 UTC data for United States Core Durable Goods Orders will be released, with an expected decline to 0% from the preceding figure of 0.2%. United States Core PCE Price Index (MoM) (Apr) is expected tomorrow at 12:30 UTC.

While markets are generally sideways so far today, these assets are pulling ahead as VanEck Semiconductor ETF up 8.28% trading at $140.05.

Despite lacklustre price action, some assets are lagging behind their peers as Direxion Daily Semiconductor Bear 3x Shares seems to be down today, losing 17.93% of its value. IShares Trust – iShares iBonds Dec 2021 Term Treasury ETF (down 0.039%) has also underperformed today.

IShares Trust – iShares iBonds Dec 2021 Term Treasury ETF | Currently steady around $25.35

It's been more of the same this session on the back of a month of flat trade, Today's session so far looks to be heading in a similar way — iShares Trust – iShares iBonds Dec 2021 Term Treasury ETF trades at $25.35, after ending yesterday at $25.36.

Direxion Daily Semiconductor Bear 3x Shares | -17.93% in mid-session

Direxion Daily Semiconductor Bear 3x Shares is consolidating around the $14.42 level after dropping $3.15 at the start of the trading session.