What you need to know before the US open
Investors will be taking time to digest the latest job numbers today, with stocks futures flat ahead of the weaker-than-expected numbers.
Initial jobless claims for last week rose more than expected – to 326,000 from 298,000 the week before. Analysts had been expecting 310,000 people to sign on for the first time.
Focus will shift to existing home sales later on today, as further word from the Fed on how it intends to support the economy is awaited.
Corporate news
The chief executive of the New York Stock Exchange, Duncan Niederauer, is stepping down. His resignation, which is with immediate effect, comes a year after the stock exchange was sold to InterContinentalExchange.
US consumer electronics giant Best Buy has said it expects comparable sales to be negative in the second and third quarters, and consumers await new smartphone launches.
And Marathon Petroleum has agreed to buy Hess Retail Holdings for $2.87bn.
Data in focus
• 2.45pm: US May Markit manufacturing
• 3.00pm: US April CB leading indicator
• 3.00pm: US April existing home sales