US Futures Pull Back

2026-06-03 12:52 By Andre Joaquim 1 min. read

Futures tracking US equity indices pulled back from records amid a hawkish outlook for the Federal Reserve and the prolonged impasse between Iran and the US.

Contracts for the S&P 500 and Nasdaq 100 edged lower while the Dow fell over 200 points.

Data from the ADP showed the private sector added a net 122,000 jobs in May, above expectations, to consolidate the view of a strong labor market and add leeway for the Fed to raise rates and fight inflation.

Stocks in traditional economic sectors dropped, with banks lower premarket.

Still, bullish bets on AI demand and soaring orders for AI infrastructure continued to support the sector, resulting in another session of Nasdaq outperformance.

Marvell surged 15% premarket to extend the 30% increase in the last session after Nvidia CEO Huang stated the semiconductor producer could be the next trillion-dollar company.

Meanwhile, Macy's was 3% higher premarket after beating earnings estimates and upgrading their forecasts.



News Stream
US Stocks Pull Back
US equity indices pulled back from records amid risks of a hawkish Federal Reserve and the lack of progress between Iran and the US. The S&P 500, Nasdaq 100, and Dow edged lower. Data from the ADP showed the private sector added a net 122,000 jobs in May, above expectations, to consolidate the view of a strong labor market and add leeway for the Fed to raise rates and fight inflation. In turn, fresh strikes by Iran in Bahrain and Kuwait added strain to the current ceasefire, lifting energy prices. Financial stocks were lower as yields rose with JPMorgan dropping 1%. Hyperscalers were also sharply lower, with Oracle, Nvidia, and Microsoft down more than 2.5%. Still, soaring orders for AI infrastructure continued to support the sector. Marvell surged 15% to extend the 30% increase in the last session after Nvidia CEO Huang stated the semiconductor producer could be the next trillion-dollar company. Macy's inched higher on a stronger guidance and AT&T fell on a recommendation downgrade.
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2026-06-03
US Futures Pull Back
Futures tracking US equity indices pulled back from records amid a hawkish outlook for the Federal Reserve and the prolonged impasse between Iran and the US. Contracts for the S&P 500 and Nasdaq 100 edged lower while the Dow fell over 200 points. Data from the ADP showed the private sector added a net 122,000 jobs in May, above expectations, to consolidate the view of a strong labor market and add leeway for the Fed to raise rates and fight inflation. Stocks in traditional economic sectors dropped, with banks lower premarket. Still, bullish bets on AI demand and soaring orders for AI infrastructure continued to support the sector, resulting in another session of Nasdaq outperformance. Marvell surged 15% premarket to extend the 30% increase in the last session after Nvidia CEO Huang stated the semiconductor producer could be the next trillion-dollar company. Meanwhile, Macy's was 3% higher premarket after beating earnings estimates and upgrading their forecasts.
2026-06-03