U.S. stock futures point to a lower open Tuesday morning after an extended weekend, as traders take stock of the global economy and look for more cues for sustaining the pace of economic recovery. With no major economic data on tap, traders might look for cues from European and Asian markets for direction. Profit taking might not be ruled out in late trading session following sharp gains in the previous week.
As at 6.15 a.m ET, the Dow futures were down 49.00 points, the S&P 500 futures were down 6.70 points, and the tech-heavy Nasdaq 100 futures were down 8.25 points.
Traders might react to President Obama's call for a new $50 billion investment in infrastructure projects involving roads, railways and airports in an effort to stimulate the economy and boost the recovery prospects.
Across the Atlantic, media reports about the loopholes in the recent bank stress tests have raised fresh concerns about the health of the banking sector and banks were leading the declines in the markets.
The Reserve Bank of Australia has kept its interest rates unchanged at 4.5% at the conclusion of the policy meeting. The strengthening of the Japanese yen against the US dollar dragged Nikkei lower even as positive US jobs data eased fears about sustaining global economic recovery.
Earnings results of a few companies will also be in traders' focus.
Before the market opens, Casey's General (CASY) and Pike Electric (PIKE) are among the few companies that will release their quarterly results.
Navistar (NAV), Pep Boys (PBY) and Philips-Van Hausen (PVH) are some of the major companies to report results after the markets close.
Oil Light sweet crude oil for October delivery is presently quoted at $72.88 a barrel, down $1.72 a barrel from its previous close of $74.60 a barrel in New York on Friday.
Dollar The US dollar is gaining against the euro and the pound, but weakening against the Japanese yen.
World Markets Asian markets open for trading on Tuesday ended mixed with the markets in Australia, Japan, South Korea and Taiwan ending in negative territory, while the markets in China, Hong Kong, India, Indonesia, and Singapore ended in positive territory with modest gains. The traders exercised caution awaiting more cues on global economic recovery after fewer than expected job losses in the US eased fears of double dip recession. The strengthening of the Japanese yen against the US dollar worried investors while sharp drop in crude oil prices also impacted market sentiment. The European markets are presently trading in negative territory led by financial stocks.
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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.