Private Payrolls Rise Less Than Expected in May, Stifling US Equity Futures Pre-Bell

MT Newswires Live
04 Jun

US equity futures were little changed pre-bell Wednesday as traders digest labor market data.

Dow Jones Industrial Average futures, S&P 500 futures, and Nasdaq futures were all down around 0.1%.

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.5% at $65.33 per barrel and US West Texas Intermediate crude 0.4% lower at $63.15 per barrel.

The ADP Institute's employment report, released at 8:15 am ET, showed a 37,000 rise in private payrolls for May following a 60,000 increase in the preceding month, compared with estimates compiled by Bloomberg for a larger 114,000 rise.

The Institute for Supply Management's services index for May, due at 10 am ET, is seen coming in at 52.0 versus 51.6 in April.

In other world markets, Japan's Nikkei closed 0.8% higher, Hong Kong's Hang Seng ended up 0.6%, and China's Shanghai Composite finished 0.4% higher. Meanwhile, the UK's FTSE 100 was up 0.4%, and Germany's DAX index was 0.3% higher in Europe's early afternoon session.

In equities, Thor Industries (THO) shares were 8% higher pre-bell after the company reported higher fiscal Q3 earnings and revenue. Sagimet Biosciences (SGMT) stock was 15% higher after the company said its treatment candidate for acne vulgaris met its primary and secondary endpoints in a phase 3 trial.

On the losing side, Palo Alto Networks (PANW) stock was down 1.1% after Citic cut its price target to $220 from $228.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10