Stocks are on pace to open moderately lower on Tuesday following the Labor Day weekend, as traders may do some profit taking following last week's gains amid a lack of first-tier economic reports. The major index futures are all in negative territory, with the Dow futures down by 59 points.
Traders may 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.
On the corporate front, Barclays Plc (BCS) is moving lower in premarket trading after naming Robert Diamond as its CEO, effective next year. Diamond is currently the chief of Barclays' investment banking division. Meanwhile, Oracle Corp. (ORCL) is seeing gains in premarket trading after Mark Hurd was appointed as its co-president. Hurd, formerly of Hewlett Packard (HPQ), was removed from his post of CEO at HP after sexual harassment allegations against him became public.
Stocks rallied to their best closing levels in three weeks ahead of the Labor Day weekend on Friday, as a softer than forecast drop in August jobs helped to alleviate some fears of a double-dip recession. Nonetheless, the day's buying may have been held back by a worse than expected reading on service sector activity.
The Dow jumped by 128 points to end at 10,448, the Nasdaq advanced by 34 points to 2,234 and the S&P 500 surged up 14 points to 1,105.
For the week, the Dow rose by 2.9 percent, the Nasdaq moved up by 3.7 percent and the S&P gained 3.8 percent.
Overseas, stock markets in the Asia-Pacific region turned in a mixed performance on Tuesday. Japan's benchmark Nikkei 225 Index fell by 0.8 percent, while Hong Kong's Hang Seng Index moved up by 0.2 percent.
Meanwhile, the major European markets are notably lower. The French CAC 40 Index is down by 1.2 percent, while the U.K.'s FTSE 100 Index and the German DAX Index are down by 0.8 percent and 0.7 percent, respectively.
Among the currencies, the U.S. dollar is higher against the euro, trading at $1.2741, and it is also up against the pound at $1.5320. Versus the yen, the dollar has slipped to 83.85 yen.
In commodities trading, crude oil futures are down by $1.34 at $73.26 a barrel and gold futures are down by $2.40 at $1,247.40 an ounce.
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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.