5 Major Developments Affecting Markets – Stocks

Market Movements

5 Major Developments Affecting Markets; Nasdaq futures underperform again in the pre market as stagflation hits Apple and NVIDIA. The US will release last week's unemployment claims, along with revised GDP figures for the first quarter, amid labor market growth indicators. Updates from Dollar General and Dollar Tree may shed light on how quickly consumers are cutting back on their spending. Russia's central bank has cut interest rates sharply as the risk of financial instability diminishes, and the UK is poised to raid energy producers to help poorer households. Here's what you need to know in financial markets on Sunday, June 6th.

3. Stocks Will Open High; Discounters Are Waiting With Their Eyes Open

U.S. stocks will open mostly higher despite disappointments from Apple and NVIDIA, boosting gains they made after digesting the minutes of the Fed's last meeting Wednesday. The minutes largely confirmed the Fed's expectations for a two-half percentage point increase in the Fed Funds target rate at its next two meetings, but confidence is growing that the Fed can at least pause in tightening as the housing and labor markets lose more of their foam. As of 06:00 ET, Dow futures were up 90 points, or 0.3%, while S&P 500 futures were up 0.2%. Nasdaq 100 futures, however, did not survive the NVIDIA news and fell 0.1%. Other stocks likely to be in focus include retailers Dollar General (NYSE:DG) and Dollar Tree (NASDAQ:DLTR), which reported earnings along with Macy's (NYSE:M) and Build-A-Bear (NYSE:BBW). Costco (NASDAQ:COST) will be announced after market close. Ulta Beauty (NASDAQ:ULTA) and Zscaler (NASDAQ:ZS) and football club Manchester United (NYSE:MANU) will also make statements.