Dropping under the $80 level, Alibaba reached $78.78 by the end of the trading session.

Alibaba lost $2.43 today after closing yesterday at $81.21. It is currently trading below the $80 level for the first time in 2 months.

United States Core PCE Price Index (MoM) (Apr) is next today at 12:30 UTC.

United States Pending Home Sales improved upon its previous reading of -5.2% with a new data release of 0%.

This down-slide takes place while positive United States macroeconomics indicators data was published earlier – United States GDP beat the 1.1 projections, with 1.3. United States Initial Jobless Claims beat the 250,000 projections, with 229,000.

Alibaba was not the only decliner in the consumer discretionary sector; Home Depot went down to $286.75, losing 1.49% after it closed at $291.1 yesterday. Amazon went down to $115, losing 1.5% after it closed at $116.75 yesterday. Walt Disney went down 1.04%, closed at $89.07.

With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as projections for United States Core Durable Goods Orders are set for a continuation of decline with 0% while previous data was 0.3%; data will be released today at 12:30 UTC.

Furthermore, United States Core PCE Price Index (MoM) (Apr) scheduled to come out today at 12:30 UTC.

The Chinese technology developer has fallen back around 33.65% from the significant high of $122.39 set 10 months ago.