U.S. Market Futures Pointing Higher after Losses Friday

U.S. stock futures are pointing higher in pre-market trading for Monday, June 6. The Dow Futures are up 20 points to 17820.0. The S&P 500 Futures are up 0.75 points to 2098.5. The Nasdaq Futures are higher at 4513.25 for a gain of 4.25 points. The Russell Futures are showing a gain of 1.00 point at 1163.0.          

In overnight trading in the Eastern Hemisphere, stocks in Asia were mixed. China’s Shanghai Composite was lower by -4.58 points or -0.16 percent at 2934.10. Japan’s Nikkei 225 was lower by -62.20 points or -0.37 percent at 16580.03. Hong Kong’s Hang Seng Index was higher by 82.98 points or 0.40 percent at 21030.22. In India the S&P BSE Sensex was lower by -65.58 points or -0.24 percent at 26777.45 and the NSE Nifty was lower at 8,201.05 for a loss of -19.75 points or -0.24 percent. The Asia Dow was higher by 22.37 points or 0.84 percent at 2695.98. In Europe, trading was also mixed. The FTSE 100 was higher by 56.99 points or 0.92 percent at 6266.62. Germany’s DAX was higher by 9.85 points or 0.10 percent at 10113.11. France’s CAC 40 was lower by -5.19 points or -0.12 percent at 4416.59. The Stoxx Europe 600 was higher by 0.18 points or 0.05 percent at 341.47. The Europe Dow was higher by 3.83 points or 0.25 percent at 1557.13.

Monday’s Factors and Events

On Monday, Janet Yellen will be speaking in the afternoon and Eric Rosengren will be discussing quantitative easing on a panel in Europe. The Labor Market Conditions Index will also be released on Monday and follows a weaker than expected jobs report Friday that showed an increase of 38,000 jobs with the unemployment rate falling to 4.7 percent.

Stocks actively trading in the pre-market include Alcoa Inc., Apple Inc., CenturyLink Inc., AbbVie Inc., Carnival Corp. and Tyson Foods.

Retail stocks will continue to be on close watch as earnings trend lower and especially at the large department stores. Year-to-date Nordstrom is now down 20.20 percent. Large consumer goods retail stores such as Wal-Mart are also focusing on improving e-commerce as consumers are spending more on the internet. 

Overall, the market will continue to focus on Friday’s jobs report and the economy’s continued weakening. Some global concerns will be a factor as the Fed prepares to meet for its June meeting on the 14th and 15th and in Europe on June 23rd the U.K. will vote on whether or not to remain in the Eurozone.

Friday’s Activity

U.S. market indexes closed broadly lower on Friday after the May payrolls increase fell far below expectations. The Dow Jones Industrial Average closed at 17807.06 for a loss of -31.50 points or -0.18 percent. The S&P 500 was also down, closing at 2099.13 for a loss of -6.13 points or -0.29 percent. The Nasdaq Composite closed lower at 4942.52 for a loss of -28.85 points or -0.58 percent.

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Source: DJIA, S&P 500 and Nasdaq Composite. Google Finance.

Other notable index closes Friday included the small-cap Russell 2000, closing at 1164.13 for a loss of -6.45 points or -0.55 percent; the S&P 600 closing at 709.55 for a loss of -3.66 points or -0.51 percent; the S&P 400 Mid-Cap Index closing at 1500.90 for a loss of -6.19 points or -0.41 percent; the Russell 3000 closing at 1238.82 for a loss of -4.15 points or -0.33 percent; and the Dow Jones U.S. Select Dividend Index closing at 596.99 for a gain of 2.10 percent or 0.35 percent.

Julie Young

[email protected]

Julie Young is a Senior Market Reporter and Analyst

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