After ending the previous session firmly in negative territory, stocks may regain some ground in early trading on Wednesday. The major index futures are currently pointing to a higher open for the markets, with the Dow futures up by 62 points.
Traders may look to pick up stocks at somewhat reduced levels following yesterday's weakness, which was triggered by a negative reaction to the Bank of Japan's latest monetary policy decision and escalating riots in Turkey.
Nonetheless, trading activity is likely to remain relatively subdued amid another quiet day on the U.S. economic front.
The economic calendar will finally pick up in the last two days of the week, with traders likely to keep a close eye on reports on retail sales, weekly jobless claims, and industrial production.
Trading could be impacted by the release of the Energy Department's report on oil inventories in the week ended June 7th.
Crude oil stockpiles fell by 6.3 million barrels to 391.3 million barrels in the week ended May 31st. Nevertheless, inventories were well above the upper limit of the average range.
The Treasury Department is also scheduled to release the results of its auction of $21 billion worth of ten-year notes later in the day.
After moving sharply lower at the start of trading on Tuesday, stocks saw some volatility over the course of the session but maintained a negative bias throughout the day. Disappointing news from overseas weighed on the markets.
The major averages ended the day firmly in negative territory although off their lows for the session. The Dow fell 116.57 points or 0.8 percent to 15,122.02, the Nasdaq slid 36.82 points or 1.1 percent to 3,436.95 and the S&P 500 dropped 16.68 points or 1 percent to 1,626.13.
In overseas trading, stock markets across the Asia-Pacific region saw some further downside after coming under pressure in the previous session. Japan's Nikkei 225 Index edged down by 0.2 percent, while Australia's All Ordinaries Index fell by 0.7 percent.
Meanwhile, the major European markets have turned mixed on the day. While the German DAX Index is down by 0.1 percent, the U.K.'s FTSE 100 Index is up by 0.2 percent and the French CAC 40 Index is up by 0.4 percent.
In commodities trading, crude oil futures have dipped $0.01 to $95.37 a barrel after falling $0.39 to $95.38 a barrel on Tuesday. An ounce of gold is currently trading at $1,376, down $1 from the previous session's close of $1,377. On Tuesday, gold fell $9.
On the currency front, the U.S. dollar is trading at 96.66 yen compared to the 96.02 yen it fetched at the close of New York trading on Tuesday. Against the euro, the dollar is valued at $1.3283 compared to yesterday's $1.3313.
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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.