S&P, Dow futures rise ahead of economic data; Salesforce rises

Futures that track the Dow and S&P 500 rose on Wednesday, after Salesforce reported strong quarterly results

S&P, Dow futures rise ahead of economic data; Salesforce rises

Futures that track the Dow and S&P 500 rose on Wednesday, after Salesforce reported strong quarterly results. Investors waited for data on private jobs and factory activity to gauge the strength of the U.S. economic.

Premarket trading saw Salesforce shares jump 8.6% after the enterprise software company raised its full year adjusted profit outlook. It also stated that it does not expect any material economic impact from the uncertain broader economy.

ADP will release its report at 08:15 AM. ET is expected to reveal that U.S. private payrolls increased by 300,000. This follows a rise of 247,000 in April. After market closes, construction spending data and ISM manufacturing purchasing manager's index reading for May will be available.

These data are ahead of Friday's closely-watched nonfarm payrolls report, which will offer more insight into the state of the job market in the face rising costs and a labor crunch.

Investors will also be able to read comments from James Bullard, President of the St. Louis Federal Reserve, and John Williams, President of the New York Fed, who are due to speak later in today's session, for clues about the timing of tightening monetary policy.

Christopher Waller, Fed Governor, made hawkish remarks. Higher oil prices and a lower risk appetite contributed to Wall Street's decline on Tuesday. This was after a rally last Wednesday.

Stock markets have been rocked by uncertainty about the U.S. central banks' policy move, the war with Ukraine, long supply chain snarls caused COVID-19 lockdowns China, and higher Treasury yields. The benchmark S&P 500 index (.SPX), is down 13.3% year to-date.

6:33 a.m. ET: Dow eminis rose 100 points or 0.3%; S&P 500 was up 2.5 points or 0.06%; while the Nasdaq100 eminis fell 14.75 points or 0.12%.

Warner Bros Discovery (WBD.O.) plunged 1.9% following a report by Britain's competition watchdog that it was investigating the BT Group (BT.L.) agreement to combine its sports broadcasting and media streaming businesses.

Yorum yapabilmek için üye girişi yapmanız gerekmektedir.

Üye değilseniz hemen üye olun veya giriş yapın.

NEXT NEWS