Futures Lower after Dow Sets Record

PUBLISHED  | 2 min read
Thomas White

Thomas White

Co-Host

U.S. stock futures were lower in premarket trading as traders looked to May’s jobs report.

The moves come after a mixed session on Wall Street with the S&P 500 and Dow Index rising but the tech-heavy Nasdaq-100 (NDX) fell on Thursday. The Dow Jones Industrial index did settle at a record high as traders pushed into Blue Chip stocks with Healthcare and Financials leading the gains.

Focus turns to the May non-farm payrolls data this morning with estimates of 85,000 jobs added with the unemployment rate holding steady at 4.3%. Geopolitical risks and oil prices will also be closely watched as the U.S.-Iran war has dragged on into its fourth month, and the conflict between the two nations has been in a fragile ceasefire.

Snapshot (as of 8 AM ET)

  • Oil (/CL) – Oil prices are down 0.27% to $92.79
  • Gold (/GC) – Gold is down -0.14% to $4,498.80
  • Bitcoin (/BTC) – The cryptocurrency is down -2.63% to 62,165
  • U.S. Dollar (/DX) – The dollar is down 0.22% to 99.196
  • VIX – The CBOE Volatility Index was down 4.1% on Thursday to 15.40

Biggest Premarket Movers (as of 8 AM ET)

Advancers:

  • Cooper Companies Inc (COO) 5.13%
  • Applovin Corp (APP) 3.17%
  • Chipotle Mexican Grill (CMG) 1.60%
  • Salesforce Inc (CRM) 0.93%
  • Eli Lilly and Co (LLY) 0.86%

Decliners:

  • Lululemon Athletica (LULU) -9.69%
  • Lumentum Holdings Inc (LITE) -4.08%
  • Micron Technology Inc (MU) -3.76%
  • Corning Inc (GLW) -3.14%
  • Intel Corp (INTC) -3.02%

Economic Data (ET)

  • 08:30AM: Nonfarm Payrolls (May)
  • 08:30AM: Unemployment Rate (May)
  • 08:30AM: Average Hourly Earnings (MoM)
  • 08:30AM: Average Hourly Earnings (YoY)
  • 08:30AM: Participation Rate (May)
  • 01:00PM: Baker Hughes Rig Count

Notable Earnings

  • Premarket: ABM, GIII
  • Postmarket: None
  • Premarket Monday: CPB, DLTH
  • Postmarket Monday: MTN
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