Early indications suggest that Wall Street stocks may open Tuesday's session on a weak note. The markets have resiliently preserved the momentum, as signals suggested that the domestic economy is slowly and steadily getting back on track, so much so that traders have begun speculating about an early withdrawal of the Fed stimulus. Earlier in the global trading day, Asian stocks closed on a mixed note. Meanwhile, European stocks are uniformly lower amid separate reports showing better than expected eurozone industrial output data and a lower than expected German economic sentiment reading.
As of 6:15 pm ET, the Dow futures are moving down 30 points, the S&P 500 Index futures are declining 2.80 points and the Nasdaq 100 futures are receding 6.50 points.
U.S. stocks resisted a profit taking-induced sell-off on Monday, thanks to surprisingly strong retail sales data, and ended mixed.
On the economic front, the Labor Department is set to release its report on import and export prices for April at 8:30 am ET. Economists estimate a 0.1 percent drop in exports compared to the previous month, while import prices may have fallen a steeper 0.5 percent.
In corporate news, Take-two Interactive (TTWO) reported a fourth quarter results that exceeded estimates, while its full year guidance surrounded the consensus estimate.
Clorox (CLX) said its board approved a nearly 11 percent increase in its dividend to 71 cents per share. Trimble (TRMB) said its CFO Rajat Bahri is leaving the company to take up another career opportunity. The company also named its VP, Finance and chief accounting officer Julie Shepard as its interim CFO.
Cigna (CI) announced the resignation of its CFO Ralph Nicoletti and the appointment of its VP, Finance Thomas McCarthy to the post of CFO.
PetSmart (PETM) named Carrie Teffner as its SVP and CFO, effective June 3rd, 2013.
Cache (CACH), Agilent Technologies (A) and Photronics (PLAB) are among the companies due to release their quarterly results.
The major Asian markets closed on a mixed note, with the Australian, Indonesian, Indian, Singaporean, South Korean and Taiwanese markets closing higher, while the rest of the major markets retreated. The yen firmed up, pressuring stocks in Japan, while offering support to South Korean stocks.
Japan's Nikkei 225 average ended down 23.79 points or 0.16 percent at 14,758. Retail and real estate stocks were among the biggest decliners of the session. Financial, construction and export stocks also came under selling pressure. On the other hand, resource stocks gained ground.
Australia's All Ordinaries closed 7.70 points or 0.15 percent higher at 5,203. Healthcare stocks led the gains, although energy, consumer staple, telecom and utility stocks came under selling pressure.
Hong Kong's Hang Seng Index closed at 22,930, down 59.53 points or 0.26 percent. China's Shanghai Composite Index succumbed to intense selling pressure generated by fears that the domestic economic recovery has not picked up enough pace to go about with a sustainable recovery. The index closed 24.91 points or 1.11 percent lower at 2,217.
On the economic front, the Bank of Japan reported that its index measuring corporate goods prices rose 0.3 percent month-over-month in April. Economists expected a 0.1 percent increase for the month.
After opening higher, European stocks have back their ground and are currently moderately lower. Traders are apparently not having enough impetus to buy into the overbought markets amid a lack of meaningful catalysts.
In corporate news, EADS, the parent company of Airbus, reported higher first quarter profit, as aircraft deliveries improved. U.K.'s British Land reported a 1.9 percent increase in its full year on higher rentals and new leases. Water utility Severn Trent said it has received a takeover approach from a group of international investors.
Germany's Deutsche Post reported first-quarter profit decline, hurt by weak global economic conditions. Potash manufacturer K+S reported better than expected first quarter results. German pharma company Meck KgaA reported higher first quarter earnings and added that it expects to achieve its 2014 targets a year ahead of schedule.
On the economic front, Zew Institute's economic sentiment index for Germany came in at 36.4 in May, almost flat with 36.3 in April, while economists had expected a reading of40. The current conditions index fell 0.3 points to 8.9.
Eurostat reported that industrial output in the euro area rose a better than expected 1 percent month-over-month in March. Annually, output fell 1.7 percent, not as steep as the 2 percent drop expected by economists.
The results of a survey by the Royal Institution of Chartered Surveyors showed that house prices improved in April. The house price balance based on the survey rose to 1 in April from -2 in March. German wholesale prices fell 0.4 percent year-over-year in April, according to a report released by the German Federal Statistical Office. Economists expected a 0.6 percent drop for the month. On a monthly basis, prices were down 0.2 percent compared to expectations for a 0.4 percent drop.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.