U.S. equity futures traded lower Friday morning ahead of the release of the most anticipated economic report of the month. The major futures indexes suggest a decline of 0.2% when the trading session on Wall Street gets underway.
The S&P 500 rose 1.8% to 4,176.82. The Dow Jones Industrial Average rose 1.3% to 33,248.28, while the Nasdaq climbed 2.7% to 12,316.90.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 32899.7 | -348.58 | -1.05% |
| SP500 | S&P 500 | 4108.54 | -68.28 | -1.63% |
| I:COMP | NASDAQ COMPOSITE INDEX | 12012.733912 | -304.16 | -2.47% |
Treasury Bill, the yield on the 10-year Treasury, which helps set interest rates on mortgages and other loans was at 2.91% Friday morning.
Commodities, Oil prices were trading lower on Friday, after OPEC countries and allies decided to boost output that could make up for lost supply from Russia. U.S. West Texas Intermediate (WTI) crude futures traded around $116 a barrel. Brent crude was around $117 a barrel.
Payroll processor ADP reported that hiring by private U.S. companies rose just 128,000 in May. That's well below the 300,000 hires economists expected. The employment report isn't the only piece of economic data being released.
PMI --non-manufacturing PMI, for May shows that the services sector activity is expected to edge down to 56.4, the lowest since February 2021, after slipping unexpectedly to 57.1 in April. A reading above 50 indicates expansion.
Aviation, Frontier Airlines will pay Spirit Airlines a breakup fee of $250 million if regulators block a merger between the two carriers. Frontier is trying to gain investor support for its merger and fend off a hostile bid from rival JetBlue Airways.
Bitcoin traded around $30,000
Asia Market, Asian stocks The investors' sentiments are mixed and majorly positive. Tokyo's Nikkei 225 index increased by 0.56% to 27,915.89, China's Shanghai climbed by 1.28% to 3,236.37 while Hang Seng in Hong Kong retreated by 2.71% to 21,653.9
