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Futures Churn Pre-Bell Ahead of May Jobs Report; Asia Mostly Up, Europe Down
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Futures Churn Pre-Bell Ahead of May Jobs Report; Asia Mostly Up, Europe Down
Jun 7, 2024 4:39 AM

07:16 AM EDT, 06/07/2024 (MT Newswires) -- US equity futures were little changed before Friday's open as investors await the national employment situation report for May.

The S&P 500 futures and the Dow Jones Industrial Average were slightly in the red, while the Nasdaq edged up 0.1% in premarket activity. Most Asian exchanges were trending higher while European bourses were heading south midday on the continent.

The jobs report for May will post at 8:30 am ET. Government data are expected to show nonfarm payroll growth of 185,000 last month, which would mark an acceleration from a 175,000 increase reported in April, according to a consensus compiled by Bloomberg.

Also on Friday's economic calendar, the wholesale inventories report for April is out at 10 am, followed by the weekly Baker Hughes domestic oil-and-gas rig count posts at 1 pm. The Federal Reserve's consumer credit bulletin for April is due at 3 pm.

Fed Governor Lisa Cook is slated to speak at 12 pm.

Shares of GameStop ( GME ) slumped 16% pre-bell as the video game retailer reported fiscal first-quarter results earlier than scheduled. The company closed Thursday's trading session with a 48% stock jump after meme stock leader 'Roaring Kitty,' whose real name is Keith Gill, reportedly scheduled a YouTube livestream at noon. AMC Entertainment ( AMC ) fell 10% while DocuSign ( DOCU ) dropped almost 8%.

Before the opening bell, bitcoin increased 0.8% to $71,288, West Texas Intermediate crude rose 0.4% to $75.86 a barrel, yields on 10-year Treasuries inclined 1.6 basis points to nearly 4.3% and gold declined 1.5% to $2,355 an ounce.

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