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Futures Mostly Rise Pre-Bell as Traders Await Fresh Labor Data; Asia, Europe Gain
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Futures Mostly Rise Pre-Bell as Traders Await Fresh Labor Data; Asia, Europe Gain
Jun 3, 2024 4:23 AM

06:59 AM EDT, 06/03/2024 (MT Newswires) -- The benchmark US stock measures were mostly pointing higher before Monday's opening bell, as investors prepare for the release of fresh labor market data later in the week.

Standard & Poor's 500 futures increased 0.2% and the Nasdaq added 0.5% in premarket activity, while the Dow Jones Industrial Average decreased 0.1%. The majority of Asian exchanges were trending upwards, while European bourses were tracking in the green.

Traders await the Job Openings and Labor Turnover Survey for April on Tuesday and the ADP Employment Report for May on Wednesday. The Challenger Job Cut Report for last month is due Thursday, and the government's nonfarm payrolls will be out on Friday.

On Monday's economic calendar, the May purchasing managers' index for manufacturing from S&P Global posts at 9:45 am ET, along with the Institute for Supply Management's manufacturing index for the same month at 10 am. The construction spending report for April is also scheduled for a 10 am release.

GameStop's ( GME ) shares rocketed 76% pre-bell after the person behind the 2021 rally in the video game retailer's stock reportedly posted a screenshot of a potential $116 million position in the company. AMC Entertainment ( AMC ) climbed 27%. Paramount Global ( PARAA ) spiked 6.8% after media publications reported that Skydance Media's offer for the entertainment company includes an option for non-voting shareholders to cash out a portion of their stock for about $15 per share.

Science Applications International ( SAIC ) is set to report its latest financial results before the bell, among others. GitLab ( GTLB ) and HealthEquity ( HQY ) post earnings in the afterhours.

Before the open, bitcoin traded up 2.1% at $69,040, West Texas Intermediate crude declined 0.2% to $76.81 a barrel, yields on 10-year Treasuries slipped 3.9 basis points to 4.47% and gold inched 0.1% higher to $2,349 an ounce.

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