See All Market Updates LiveMarket Indexes Point Lower in Premarket Trading
Stock futures are pointing to a lower open on Tuesday, June 3, 2025, as investors digest the Organization for Economic Co-operation and Development’s reduced U.S. growth outlook. S&P 500 futures fell 0.5%, Dow Jones Industrial Average futures lost 183 points (0.4%), and Nasdaq-100 futures ticked down 0.1%.
The pullback follows a strong performance in May, with the S&P 500 rising 6.15% – its best monthly gain since November 2023. The Dow and Nasdaq Composite also posted solid advances of 3.94% and 9.56%, respectively.
Treasury yields declined as traders sought safety, with the benchmark 10-year Treasury note yield dropping 4 basis points to 4.418%.
Growth Concerns and Trade Tensions Weigh on Markets
The OECD has cut its U.S. growth outlook, now projecting the economy to expand by just 1.6%, down from a previous estimate of 2.2%.
Beijing recently countered President Donald Trump’s accusations that it had violated a temporary trade agreement. While investors had been hopeful about potential trade negotiations, this development suggests talks may be deteriorating.
Adding to global trade concerns, the European Union has criticized Trump’s intention to double steel tariffs to 50%, warning that such a move “undermines” ongoing negotiations. An EU spokesperson indicated the bloc is “prepared to impose countermeasures” if necessary.
Asian Markets Show Mixed Performance
Asian markets traded mixed on Tuesday after China’s manufacturing activity in May shrank at the fastest pace since September 2022. The Caixin/S&P Global manufacturing purchasing managers’ index came in at 48.3, missing expectations and dropping sharply from 50.4 in April.
Hong Kong’s Hang Seng Index led gains in the region, ending 1.53% higher at 23,512.49, while Mainland China’s CSI 300 added 0.31% to close at 3,852.01. Japan’s Nikkei 225 ended flat at 37,446.81, and Australia’s S&P/ASX 200 advanced 0.63% to 8,466.70.
Earnings in Focus: Major Companies Reporting Today
Several notable companies are scheduled to report earnings before the market opens today:
Ferguson Enterprises Inc. (FERG) is expected to report earnings per share of $2.01, representing a 13.36% decrease compared to the same quarter last year.
Dollar General Corporation (DG) is projected to report earnings of $1.47 per share, a 10.91% decrease year-over-year.
Donaldson Company, Inc. (DCI) is anticipated to report $0.95 earnings per share, a 3.26% increase from the same period last year.
Other companies reporting include Ollie’s Bargain Outlet Holdings, Inc. (OLLI), NIO Inc. (NIO), and Signet Jewelers Limited (SIG).
Key Economic Data on Tap
Investors will be watching several important economic releases today:
Factory orders for April will be published at 10:00 AM ET, with economists expecting a decline of 3.2% following a 4.3% increase in March.
The Job Openings and Labor Turnover Survey (JOLTS) for April will also be released at 10:00 AM ET. The previous reading showed 7.2 million job openings.
Federal Reserve officials are scheduled to speak throughout the day, including Chicago Fed President Austan Goolsbee at 12:45 PM ET, Federal Reserve Governor Lisa Cook at 1:00 PM ET, and Dallas Fed President Lorie Logan delivering opening remarks at 3:30 PM ET.
Looking Ahead: Market Expectations
Despite current volatility, some analysts remain optimistic about the market’s short-term prospects. Jeff deGraaf, head of technical research at Renaissance Macro, noted that “The next six weeks are some of the best six-week periods, historically, really rivaling only what we see in the fourth quarter. So this is not a time to lighten up on positions, just from the calendar’s perspective.”
Later this week, investors will focus on Wednesday’s ADP employment report and Friday’s crucial non-farm payrolls data, which will provide further insights into the labor market’s health and potential implications for Federal Reserve policy.
The European Central Bank is also expected to cut interest rates at its meeting on Thursday, which could influence global market sentiment amid ongoing economic uncertainty.
As trade tensions and growth concerns continue to evolve, market participants will closely monitor both economic data and policy developments for direction in the days ahead.