Traders work on the New York Stock Exchange trading floor during afternoon trading on June 3, 2024.
Michael M. Santiago | Michael M. SantiagoGetty Images
Stock futures were nearly flat Tuesday night as investors prepared for private jobs data while analyzing the latest corporate earnings.
Dow Jones Industrial Average Futures Up 49 points, or 0.1%. S&P 500 Index Futures and Nasdaq 100 Futures They also rose by about 0.1% each.
In after-hours trading, Hewlett Packard Enterprise The company’s shares rose more than 16% after beating Wall Street expectations on both lines in the fiscal second quarter. mass strike The company’s shares rose nearly 7% on stronger-than-expected earnings and guidance.
The moves came after a quiet but triumphant day on Wall Street. this Dow Chemical up about 140 points, while S&P 500 Index and Nasdaq Index Each increased by nearly 0.2%.
The first data points released on Tuesday provide insight into labor market conditions, an important topic for traders looking for signs that the Federal Reserve has seen enough economic tightening to begin cutting interest rates. Job openings and labor turnover data, or JOLTS, released Tuesday morning showed 8.059 million job openings in April, the lowest level in more than three years. The number was also well below the 8.4 million consensus forecast among economists surveyed by Dow Jones.
The next set of noteworthy employment statistics will be released by ADP on Wednesday morning. Economists polled by Dow Jones expect the data to show private employers added 175,000 jobs in May.
Traders will also be watching services and non-manufacturing purchasing data due Wednesday. After that, attention will turn to weekly jobless claims figures for the all-important May jobs report on Thursday and Friday.
“The upcoming labor market data is clearly a focus across the market,” said Bill Nosey, investment director at U.S. Bancorp Wealth Management. “Investors are looking at the latest data on the health of the labor market – today’s JOLTS, tomorrow’s ADP survey and this week’s V’s (Bureau of Labor Statistics) labor force report. All of these are important data points from a monetary policy perspective.
On the profit side, discount retailers dollar tree Results are expected to be shared before the bell. Sports and leisure maker lululemon Earnings are expected after the market closes.
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