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Wall Street Set to Open Slightly Higher Monday as Investors Await Key Manufacturing Data for May
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Wall Street Set to Open Slightly Higher Monday as Investors Await Key Manufacturing Data for May
Jun 3, 2024 6:44 AM

09:19 AM EDT, 06/03/2024 (MT Newswires) -- US stocks look set to open slightly higher in Monday's trading session as investors await key manufacturing data coming out later in the morning.

The Dow Jones Industrial Average futures were off 0.03%, S&P 500 futures were up 0.23%, and Nasdaq futures were rising 0.54%.

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

And the Institute of Supply Management's Manufacturing Purchasing Managers Index for May, which is set to come out at 10:00 a.m., is expected to decline to 60.0 from 60.9 in April.

Oil prices were moving modestly lower, with front-month global benchmarks Brent crude and West Texas Intermediate crude declining 0.33% and 0.38% respectively.

In other world markets, Japan's Nikkei climbed 1.13%, Hong Kong's Hang Seng surged 1.79%, and China's Shanghai Composite was down 0.27%. Meanwhile in Europe's early afternoon session, the UK's FTSE 100 gained 0.39%, while Germany's DAX and France's CAC were up 0.97% and 0.54% respectively.

On the winning side, shares of Bio-Path ( BPTH ) soared 86% in recent premarket activity Monday after it reported positive interim results from a phase 2 study of prexigebersen in combination with decitabine and venetoclax to treat acute myeloid leukemia. GameStop ( GME ) shares were up 71% 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. Shares of MingZhu Logistics ( YGMZ ) advanced 45% 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. Crown ElectroKinetics' ( CRKN ) stock climbed 34%, more than erasing a nearly 12% loss on Friday. And shares of Faraday Future Intelligent Electric ( FFIE ) rose 25%, adding to a 3% gain the previous trading session.

On the losing side, shares of Ault Disruptive Technologies' ( ADRT ) plunged nearly 32%, after soaring 233% the previous session. Galera Therapeutics' ( GRTX ) shares tumbled 28% after the company said in a regulatory filing it was notified by the Nasdaq that it planned to delist the company's shares for failing to meet the market's continued listing requirements. Shares of Portage Biotech ( PRTG ) fell 20% after jumping nearly 92% on Friday. iSpecimen's (ISPC) stock dropped 22%, after a 1.6% gain the previous session. And shares of Couchbase ( BASE ) were down 19%, adding to nearly 5% loss on Friday.

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