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Investors Await Key Manufacturing Data as US Futures Nudge Higher in Monday's Premarket Session
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Investors Await Key Manufacturing Data as US Futures Nudge Higher in Monday's Premarket Session
Jun 3, 2024 5:33 AM

08:05 AM EDT, 06/03/2024 (MT Newswires) -- US stock futures were trending slightly higher in Monday's premarket session as investors await key manufacturing data set to be released later in the morning.

The Dow Jones Industrial Average futures were off 0.01%, S&P 500 futures were up 0.22%, and Nasdaq futures were moving 0.51% higher.

Oil prices were moving marginally higher, with front-month global benchmarks Brent crude and West Texas Intermediate crude rising 0.07% and 0.05% respectively.

The Manufacturing Purchasing Managers' Index for May, which measures the monthly activity level of purchasing managers in the manufacturing sector, is set for release at 9:45 a.m. ET and is expected to remain unchanged at 50.9, according to Investing.com.

The Institute of Supply Management's Manufacturing Purchasing Managers Index for May is scheduled for 10:00 a.m. and is expected to decline to 60.0 from 60.9 in April.

On the winning side, shares of GameStop ( GME ) soared more than 85% in recent premarket activity Monday after trader Keith Gill posted on his "Roaring Kitty" Reddit account a screenshot showing he bought 5 million shares at $21.27 each for a holding of almost $116 million. Bio-Path's ( BPTH ) shares surged 72% after it reported positive interim results Monday from a phase 2 study of prexigebersen in combination with decitabine and venetoclax to treat acute myeloid leukemia. Shares of MingZhu Logistics ( YGMZ ) advanced 46% after the company said late Friday that it has agreed to acquire Oxylus Global, a digital asset infrastructure service company, in an all-stock deal.

On the losing side, shares of MFS Multimarket Income Trust ( MMT ) plunged 60%, following a marginal gain on Friday. Ault Disruptive Technologies' ( ADRT ) shares tumbled 39%, after soaring 233% the previous session, and shares of Portage Biotech ( PRTG ) fell 23% after jumping nearly 92% on Friday.

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