U.S. futures saw a slight dip on Tuesday morning following a strong trading session the day before. Futures for the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were down by around 0.48%, 0.38%, and 0.3% at 4:44 a.m. EST on July 2.
All three major indices closed higher on Monday, driven by gains in mega-cap tech stocks like Tesla (TSLA), Apple (AAPL), Amazon (AMZN), and Microsoft (MSFT).
In other stock market news, Tesla stock rose 6.1% ahead of its second-quarter delivery numbers, while Boeing (BA) climbed 2.5% following an announcement about acquiring Spirit AeroSystems (SPR). On the flip side, Warner Bros. Discovery (WBD) and Paramount Global (PARAA) experienced declines amid reports of a potential merger between their streaming platforms.
Investors are eagerly awaiting Federal Reserve Chair Jerome Powell’s speech at the European Central Bank forum in Portugal and the release of the Job Openings and Labor Turnover Survey (JOLTS) for May, with economists predicting a slight drop in job openings compared to April.
The U.S. 10-year treasury yield is slightly down, while WTI crude oil futures are trending higher at around $83.72 per barrel. European markets opened lower as investors awaited the latest inflation data from the Eurozone.
In Asia-Pacific markets, most indices traded higher due to encouraging data showing China’s factory activity hitting a three-year high in June. Hong Kong’s Hang Seng and China’s Shanghai Composite indices closed higher, while Japan’s Nikkei and Topix indices also saw gains. However, China’s Shenzhen Component index experienced a decline.
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