Good Friday morning traders and investors of the r/stocks sub! Welcome to the final trading day of the week. Here are your pre-market movers & news on this Friday, June the 2nd, 2023-
Stock futures rise as Wall Street eyes May jobs report, traders cheer debt ceiling bill passing: Live updates
Stock futures rose as traders looked ahead to Friday’s May jobs report and cheered lawmakers passing a debt ceiling bill that averts a U.S. default.
Futures tied to the Dow Jones Industrial Average gained 157 points, or 0.5%, while S&P 500 futures added 0.5%. Nasdaq-100 futures rose 0.5%.
Lululemon shares popped 14% in the premarket on strong results and a guidance boost, while MongoDB surged 23% after hours on a blowout forecast.
Economists surveyed by Dow Jones expect that growth eased in May over the previous month, with 190,000 jobs added versus the 253,000 gained in April. That would mark the lowest monthly gain since December 2020.
Investors will look through the report for clues on the Federal Reserve’s futures policy moves.
Easing concerns around the U.S. debt ceiling also helped sentiment. The Senate passed a bill to raise the debt ceiling late Thursday night, sending the bill to President Joe Biden’s desk. That comes after the House passed the Fiscal Responsibility Act on Wednesday, just days before the June 5 deadline set by U.S. Treasury Secretary Janet Yellen.
Fear that the U.S. may default on its obligations if lawmakers failed to reach an agreement rattled some investors earlier in the week.
“I do think markets were pretty savvy this time: They kind of priced in some sort of resolution, but because we’re taking a tail risk off the table, we’re getting a bit of relief here,” said Mona Mahajan, senior investment strategist at Edward Jones.
Investors may also be finding some solace in the likelihood of very limited economic impact from the recent debt ceiling fiasco and a cap on spending that appears unlikely to weigh on economic growth in a “meaningful way,” she added.
Stocks kicked off the new trading month on a positive note Thursday. The S&P 500 and Nasdaq Composite gained 0.99% and 1.28%, respectively, to settle at their highest levels since August. The Dow Jones Industrial Average added 153.3 points, or 0.47%.
As the week draws to a close, both the S&P and Nasdaq are on track to finish with modest gains of 0.37% and 0.97%. The Dow sits 0.1% lower for the week as of Thursday’s close.
STOCK FUTURES CURRENTLY:
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YESTERDAY'S MARKET MAP:
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TODAY'S MARKET MAP:
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YESTERDAY'S S&P SECTORS:
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TODAY'S S&P SECTORS:
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TODAY'S ECONOMIC CALENDAR:
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NEXT WEEK'S ECONOMIC CALENDAR:
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NEXT WEEK'S UPCOMING IPO'S:
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NEXT WEEK'S EARNINGS CALENDAR:
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(T.B.A. THIS WEEKEND.)
THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:
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EARNINGS RELEASES BEFORE THE OPEN TODAY:
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THIS AFTERNOON'S AFTER-HOURS EARNINGS CALENDAR:
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EARNINGS RELEASES AFTER THE CLOSE TODAY:
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YESTERDAY'S ANALYST UPGRADES/DOWNGRADES:
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YESTERDAY'S INSIDER TRADING FILINGS:
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TODAY'S DIVIDEND CALENDAR:
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THIS MORNING'S STOCK NEWS MOVERS:
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(TO BE POSTED LATER THIS MORNING.) — (TO BE POSTED LATER THIS MORNING.).
STOCK SYMBOL: (TO BE POSTED LATER THIS MORNING.)
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DISCUSS!
What's on everyone's radar for today's trading day ahead here at r/stocks?
I hope you all have an excellent final trading day of this week ahead on this Friday, June 2nd, 2023! :)
[link] [comments] https://www.reddit.com/r/stocks/comments/13y9lb6/62_fridays_premarket_stock_movers_news/
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