Go to latestPinned post – 3.40AMBefore the Bell: ASX to fall, tech sell-off hits Wall StTimothy MooreAustralian shares are set to open lower, following a renewed tech sell-off in New York and the threat of renewed fighting between the US and Iran after Iran shot down a US Apache helicopter near the coast of Oman.President Donald Trump said the US must “of necessity” respond. The attack helicopter’s two aviators earlier were rescued by a drone boat.ASX 200 futures were down 25 points or 0.3 per cent to 8586 near 3.30am AEST. In New York, the S&P 500 shed more than 1 per cent and the Nasdaq Composite fell more than 2 per cent by early afternoon trading.The selling was being attributed, yet again, to investors taking profits of some of the highest flying tech stocks so far this year to build cash to invest in SpaceX’s pending initial public offering.SpaceX shares are expected to be priced on Thursday (Friday AEST) with trading expected to begin on Friday.Market highlightsASX 200 futures are pointing down 25 points or 0.3 per cent to 8586.All US prices near 1.30pm New York time.AUD -0.3% to US70.26¢Bitcoin -2.7% to $US61,665On Wall St: Dow -0.5% S&P -1.2% Nasdaq -2.1%VIX +2.80 to 21.72Gold -1.5% to $US4266.57 an ounceBrent oil -2.8% to $US91.59 a barrelIron ore +0.7% to $US100.85 a tonne10-year yield: US 4.53% Australia 4.92%Today’s agendaWednesday is all about May inflation: first both consumer and producer prices out of China, and later consumer price data from the US.TD Securities on China’s data: “We expect an uptick in China’s headline CPI inflation in May to 1.3% y/y, in line with consensus (prior: 1.2%) on the back of higher food prices as observed from our tracking of wholesale food prices. Some offset in May could come from lower transport and recreational prices as demand for travel cools after the May Labour Day holidays. China’s deflationary pressures have dissipated, and concerns shift to 2nd round price hikes from higher oil prices.”Vanguard senior economist Josh Hirt on the US data: “We expect core CPI to increase +0.22% m/m (2.87% y/y), below consensus (+0.28% m/m). Meanwhile, headline CPI is projected to rise +0.48% m/m (4.17% y/y), in line with consensus (+0.50% m/m).”Top storiesKPMG repeatedly accessed whistleblower’s computer | KPMG secretly extracted documents detailing allegations of data misuse and later shared the material with senior partners and former CEO Andrew Yates.Need to Know: Trump vows to respond after Iran shot down Apache helicopter | “The United States must, of necessity, respond to this attack. Thank you for your attention to this matter!,” the president said on social media. Qantas and Jetstar strike deal to start flights from Western Sydney | After months of wrangling, the national carrier has reached agreement to get passengers moving in and out of the new Western Sydney International Airport.Your ultimate guide to the Socceroos’ World Cup campaign | The adage “everything is bigger in America” feels made for the FIFA World Cup starting this week. Here’s how and where to follow Socceroos matches from home.Jennifer Hewett: Jacinta Allan’s future as precarious as Victoria’s | Allan’s Labor government is on the nose with Victorian voters and her own colleagues are mulling whether to replace her ahead of the November election.