U.S. stock futures slipped Sunday night as investors shifted focus to June after a bullish May. S&P 500 and Dow futures fell 0.5%, while Nasdaq futures dropped 0.7%.
May was a standout month – the S&P 500 surged over 6%, its best May since 1990, while the Nasdaq jumped 9% and the Dow gained 4%. Tech stocks led the rally, fueled by AI optimism and strong economic data.
Trade tensions remain in focus after a court battle over Trump-era tariffs on Chinese goods. Meanwhile, Elon Musk stepped down from leading DOGE and refocused on Tesla, which boosted the stock.
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This week, key economic data – including Friday’s jobs report – will provide insights into the economy’s health. Earnings from CrowdStrike, Broadcom, DocuSign, and Lululemon are also on deck.
Asia markets drop on trade fears
Asian stocks fell Monday as U.S.-China tensions flared. Hong Kong’s Hang Seng tumbled 2.2%, Japan’s Nikkei lost 1.4%, and South Korea’s Kospi dipped 0.3%. China’s markets were closed, but new U.S. steel tariffs (rising to 50%) could pressure stocks when trading resumes.
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