U.S. futures were slightly lower on Tuesday morning after a mixed trading session on June 1. The Nasdaq 100 futures (Nedix), S&P 500 (Spocks), Dow Jones Industrial Average (DJIA) were down about 0.27%, 0.26%, and 0.27%, respectively, as of 4:12 a.m. ET on June 4.
Weak manufacturing data for May, released yesterday, impacted market sentiment as investors continue to evaluate the possibility of a Federal Reserve interest rate cut.The three major indexes were mixed on Monday, with the Dow Jones Industrial Average down 0.3%, while the S&P 500 and Nasdaq Composite rose 0.11% and 0.56%, respectively.
Traders are keeping an eye on the Bureau of Labor Statistics’ Job Openings and Labor Movement Survey due to be released later today. Economists expect job openings to hit 8.38 million on the last business day of April, about 100,000 fewer than in March. U.S. manufacturing orders data is also due to be released today.
In a major earnings report due out today, Bath & Body WorksBBWI), Cloud Strike (CRWD), Hewlett Packard Enterprise (Hewlett-Packard), Stitch Fix (SFIX), PVH (PVH), designer brands (DBI) will report results today.
Other important stock market news included GameStopglobal) shares rose 21% yesterday after a post by Reddit user Roaring Kitty revealed a $181.4 million investment in GME. Spotify (spot) rose 5.7 percent after announcing price increases for its premium services in the United States.
Meanwhile, the 10-year U.S. Treasury yield has declined and is hovering around 4.38% at the time of writing. At the same time, WTI crude oil futures have also been on a downward trend, hovering around $73.15 per barrel as of last check.
Meanwhile, European markets opened lower as investors remained cautious ahead of the European Central Bank’s interest rate decision scheduled for later this week.
Asia-Pacific markets traded mixed on Tuesday
Asia Pacific stock indexes traded mixed today as investors await further economic data from the region this week and also evaluate weak US manufacturing data.
Hong Kong’s Hang Seng Index rose 0.31%, while China’s Shanghai Composite Index and Shenzhen Composite Index rose 0.41% and 1.05%, respectively, while Japan’s Nikkei 225 and TOPIX fell 0.22% and 0.38%, respectively.
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