U.S. stock futures indicated a lower open Tuesday, a day after a tech-led sell-off saw the S&P 500 and Nasdaq post their largest one-day percentage losses since March 18. Dow futures implied an opening drop of around 142 points, while S&P 500 and Nasdaq futures were further in the red. (CNBC)
The tech-heavy Nasdaq has had a less-than-merry start to May, already down 4% this month and sitting 5.2% below its most recent record close. The 30-stock Dow continues to outperform the other averages, going negative only Monday in a late sell-off, and it remains up 2.6% for May. Despite its 1% tumble Monday, the S&P 500 also remains modestly higher for the month.
Equity markets around the globe were under pressure Tuesday after the declines in U.S. tech stocks. The pan-European Stoxx 600 was down more than 2% intraday. Most Asia-Pacific markets fell Tuesday, with Taiwan’s benchmark Taiex finishing lower by 3.79% and Japan’s Nikkei 225 declining 3.08%. However, in mainland China, the Shanghai composite and Shenzhen composite advanced 0.4% and 0.36%, respectively. (CNBC)
The Labor Department’s JOLTS report — the measure of job opportunities and labor turnover — is out at 10 a.m. ET, with economists expecting it to show 7.5 million job openings as of the end of March. That would be up from the 7.4 million openings seen at the end of February.
This morning’s earnings calendar will see the latest quarterly numbers from Palantir Technologies (PLTR), Hanesbrands (HBI), Aramark (ARMK) and Perrigo (PRGO), while Electronic Arts (EA), FuboTV (FUBO) and Lemonade (LMND) are among the companies reporting after the closing bell.
