Stock futures were little changed Tuesday as Wall Street looked to find its footing after an uneven start to the month.
The future for Dow Jones Industrial Average were almost flat. S&P 500 Futures Contracts And Nasdaq 100 Futures fell by less than 0.1% each.
The evolution of futures occurred after Dow fell more than 115 points, or 0.3%, on the first trading day of June. THE S&P500 And Nasdaq Composite both rose modestly on Monday.
Weak manufacturing data weighed on market sentiment as investors waited to see if growth could hold while the Federal Reserve waited for inflation to fall enough to cut interest rates.
Gabriela Santos, JPMorgan Asset Management’s chief market strategist for the Americas, said on CNBC’s “Closing Bell” that the economy overall still appears strong, even if some investors are losing confidence.
“For us, it’s really a story of moderation in the overall rate of growth. But every time you go down to a lower altitude, you can have slightly rougher areas – some fear too much deceleration,” he said. she declared.
A busy week of economic data continues Tuesday, with data on job openings and factory orders for April being released at 10 a.m. ET. The key report of the week will be the May payrolls report on Friday.
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News Source : www.cnbc.com
