AAPL - Dow S&P Nasdaq futures little changed oil remains under pressure

2023-06-06 05:10:13 ET

Stock index futures were drifting again Tuesday with little on the data front to sway sentiment ahead of the bell.

S&P ( SPX ) futures were flat. Nasdaq 100 futures ( NDX:IND ) +0.1% were up. Dow futures ( INDU ) -0.1% were off slightly.

Info Tech ( XLK ) and Energy ( XLE ) are the weakest sectors.

"Markets certainly stopped chasing and squeezing yesterday, in part thanks to a weak ISM services print that helped to ramp up fears about a recession," Deutsche Bank's Jim Reid said. "Earlier in the day it had looked rather different, and at one point the S&P 500 was even on track to close in bull market territory, having risen by over 20% since its closing low last October. But the negative data surprise ultimately dominated, and that led to a decent risk-off move that meant the index fell short of that milestone by the close."

WTI crude ( CL1:COM ) was down another 2% after slipping 1% in the previous session despite promise for a further production cut from Saudi Arabia post-OPEC+.

The 10-year Treasury yield ( US10Y ) fell 3 basis points to 3.67%. The 2-year yield ( US2Y ) fell 3 basis points to 4.45%.

"Ultimately, markets are increasingly coalescing around the idea that the Fed will skip a meeting in June before delivering another hike in July," Reid said.

The economic calendar is pretty empty.

Among active stocks, Apple ( AAPL ) is off slightly after falling yesterday on a sell-the-news WWDC reaction . But Unity Software ( U ) is adding to gains after coming up in the presentation.

More on the markets

• Bullish Trends Are Aligned On Multiple Timeframes
• The Great Debate: Small-Cap Melt-Up Or Large-Cap Crash?

For further details see: