Futures Flat After Record Closes as Investors Eye Iran Headlines
Stocks are unfazed by private payrolls coming in above estimates
The major indexes are sitting mostly flat before the bell, set to cool off from yesterday’s slew of record closes. Investors are monitoring Iran developments, where Kuwait said it has intercepted “hostile targets.” President Donald Trump also shared Iran agreed to relinquish all nuclear weapons, though the decision could be reversed.
Futures on the S&P 500 Index (SPX), Nasdaq-100 Index (NDX), and Dow Jones Industrial Average Index (DJIA) are all within a chip-shot of breakeven at last look. Meanwhile, private payrolls data for May came in at 122,000, surpassing estimates and marking the highest reading since January 2025. Bond yields are also elevated today, the 10-year Treasury yield last seen testing 4.5%.
Continue reading for more on today’s market, including:
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Senior Quantitative Analyst Rock White: take a flier on these 2 ETFs.
- Plus, YUM upgraded, and two stocks popping off after hot earnings
5 Things You Need to Know Today
- The Cboe Options Exchange saw more than xx million call contracts and x million put contracts traded on Wednesday. The single-session equity put/call ratio rose to 0.44, while the 21-day moving average fell at 0.58.
- Yum Brands (NYSE:YUM) stock isup 1.% in premarket trading, after an “overweight” upgrade from Morgan Stanley shed light on the stock’s strong growth profile. YUM is contending with its year-to-date breakeven level.
- Video game retailer GameStop (NYSE:GME) is 9% higher in electronic trading, after nearly doubling analyst earnings estimates. GameStop stock is set to eat into its 31.7% year-over-year deficit.
- Medtronic (NYSE:MDT) shares are up 3% in electronic trading after the medical equipment company delivered a stronger-than-expected bottom line beat of $9.8 million and earnings came in line with estimates. The medical device maker is still near multi-year lows and down 23% year-to-date heading into today.
- Investors will be eyeing key jobs data later this week.
Nikkei at New Heights
Asian markets finished mixed on Wednesday, as investors continued to monitor U.S.-Iran tensions. The extended tech rally helped push Japan’s Nikkei above 68,000 to fresh record highs. Elsewhere, China’s Shanghai Composite added 0.2%, while Hong Kong’s Hang Seng fell 1.6%. The South Korean Kospi was closed for holiday.
European markets are lower across the board, after the U.S. floated additional tariff proposals on 60 trading partners. Both London’s FTSE 100 and the French CAC 40 are down 0.3%, while the German DAX is 0.8% lower.
