After turning in a lackluster performance throughout the previous session, stocks may continue to experience choppy trading on Tuesday. The major index futures are currently pointing to a roughly flat open for the markets.
Another quiet day on the U.S. economic front is likely to keep trading activity relatively subdued, with investors looking ahead to the release of key reports on new and existing home sales, weekly jobless claims, and durable goods orders later in the week.
Traders are also likely to stay on the sidelines ahead of remarks by Federal Reserve Chairman Ben Bernanke, who is due to testify before the Joint Economic Committee of Congress on Wednesday.
Bernanke's remarks could have a big impact on expectations regarding the Fed's plans to slow the pace of its asset purchase program.
Recent comments from some Fed officials have suggested that the central may taper its asset purchase program sooner than previously anticipated.
Nonetheless, some buying interest may be generated by the release of quarterly results from home improvement giant Home Depot (HD).
Home Depot reported first quarter earnings of $0.83 per share on net sales of $19.1 billion, while analysts had expected earnings of $0.77 per share on sales of $18.7 billion. The company also raised its full-year earnings and sales guidance.
Shares of Best Buy (BBY) may also be in focus after the consumer electronics retailer reported first quarter adjusted earnings that beat analyst estimates but on weaker than expected revenues.
Traders are also likely to keep an eye on the outcome of J.P. Morgan's (JPM) annual meeting, with shareholders due to hold a vote on whether to split the chairman and chief executive roles currently held by Jamie Dimon.
After showing a lack of direction throughout much of the session, stocks ended Monday's trading modestly lower. The slightly lower close on the day partly offset the strength that was seen in the markets last week.
The major averages ended the day below the unchanged line but off their lows for the session. The Dow dipped 19.12 points or 0.1 percent to 15,335.28, the Nasdaq edged down 2.53 points or 0.1 percent to 3,496.43 and the S&P 500 slipped 1.18 points or 0.1 percent to 1,666.29.
In overseas trading, stock markets across the Asia-Pacific region turned in a mixed performance during trading on Tuesday. While Japan's Nikkei 225 Index inched up by 0.1 percent, Hong Kong's Hang Seng Index ended the day down by 0.5 percent.
The major European markets have also turned mixed on the day. The U.K.'s FTSE 100 Index has edged up by 0.2 percent, while the French CAC 40 Index and the German DAX Index are both down by 0.2 percent.
In commodities trading, crude oil futures are slipping $0.32 to $96.39 a barrel after advancing $0.69 to $96.71 a barrel on Monday. Gold futures are sliding $9.90 to $1,374.20 an ounce. In the previous session, the precious metal climbed $19.40 to $1,384.10 an ounce.
On the currency front, the U.S. dollar is trading at 102.81 yen compared to the 102.27 yen it fetched at the close of New York trading on Monday. Against the euro, the dollar is valued at $1.2868 compared to yesterday's $1.2882.
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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.