Opening Comment — Tuesday, June 02, 2026
DJIA: 51,078.88, up 46.42
S&P 500: 7,599.96, up 19.90
NASDAQ: 27,086.81, up 114.19
Stocks lower before JOLTS data
Stock futures are lower Tuesday morning as markets evaluate the latest Iran war developments and ahead of today’s April Job Openings and Labor Turnover Survey (JOLTS) release. As of 7:18 AM ET, the Dow is decreasing 0.5%, while the S&P 500 is down 0.2%. The Nasdaq 100 is falling 0.1% relative to fair value on the GLOBEX.
U.S. equities were higher on Monday as the Institute for Supply Management’s May manufacturing purchasing managers’ index rose more than expected to 54.0, while its prices paid component unexpectedly declined to 82.1. Meanwhile, April’s construction spending showed a greater-than-expected increase of 0.4% month-over-month (MOM). The Dow was up 0.1% and reached a new record closing level of 51078.88, while the tech-heavy Nasdaq Composite rose 0.4% and hit a new record closing level of 27086.81. The S&P 500 increased 0.3% and set a new record closing level of 7599.96, with two of 11 sectors finishing in positive territory. The Information Technology sector was the top performer, rising 2.5%, while the Utilities sector was the bottom performer, falling 3.1%.
On the data front, the April JOLTS is expected to show job openings holding steady at 6.87 million. Meanwhile, May’s vehicle sales are expected to have been at an annualized 16.00 million pace.
Across the pond, European stocks are higher in mid-day trading as the preliminary May Consumer Price Index (CPI) for the eurozone came in as expected, easing to 0.1% MOM and accelerating to 3.2% year-over-year (YOY) on a headline basis, while the core measure’s growth accelerated more than expected to 2.5% YOY. The U.K.’s mortgage approvals unexpectedly increased in April.
Overnight in Asia, stocks were mixed following South Korea’s CPI rising 0.5% MOM and 3.1% YOY in May, exceeding expectations. Japan's monetary base for May decreased 12.2% YOY, compared to the prior month’s decrease of 11.3%. Meanwhile, Australia’s April building approvals registered a greater than expected decrease of 3.4% MOM.
In forex trading, the U.S. dollar is slightly lower ahead of this week’s U.S. labor market data.
Over in the commodity pits, West Texas Intermediate (WTI) crude oil is 1.1% lower at $91.15/barrel.
In the metals complex, gold is 1.1% higher at $4,532.40/ounce following a weakening U.S. dollar.