Dow Jones futures flat as unrest persists across the US
We examine how futures markets suggest US markets will open on Monday, 1 June.
Dow futures in focus
As unrest continues to spread across America – US markets have remained relatively unaffected – with Dow Jones Industrial Average futures suggesting the key US benchmark will open a shade higher on Monday, 1 June.
In response to these events, within the last 24 hours US President Donald Trump’s tweets have ranged from 'LAW & ORDER', to 'FAKE NEWS!' as well as attacking the mainstream media for its coverage of the protests, tweeting:
‘The Lamestream Media is doing everything within their power to foment hatred and anarchy. As long as everybody understands what they are doing, that they are FAKE NEWS and truly bad people with a sick agenda, we can easily work through them to GREATNESS!’
Indeed, even as many US states institute curfews and the police presence intensifies, protests continued to escalate over the weekend. At the time of writing, Dow Jones futures are currently trading flatly, up just 20.8 points or 0.08%.
All up, the Dow is coming off a mixed week, registering gains in just two of its last five trading sessions, closing out Friday’s session at the 25,383 point mark. For reference, against its March lows, the Dow currently trades close to 40% higher.
At the time of writing, S&P 500 and NASDAQ Composite futures also traded flatly.
On Friday; Cisco, Verizon and Walgreens Boots Alliance were the best performing US equities; while JP Morgan Chase, Boeing and American Express were the worst stocks performing.
Cisco made headlines last week after the tech heavyweight revealed it had acquired privately owned ThousandEyes – a network intelligence company – for a reported $1 billion.
Events to watch out for
Looking forward to some of the key economic releases for the week ending 5 June: Markit Manufacturing PMI data for May will be released on Monday, while Services PMI data (also covering May) will be released on Wednesday; Motor vehicle sales for May will be released on Tuesday, initial jobless claims will be released on Thursday; while nonfarm payroll and unemployment rate data, for May, will be released on Friday.
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