In This Article:
US stock futures (ES=F, NQ=F, YM=F) dip in Monday's pre-market session after the S&P 500 (^GSPC) closed out its best May trading month since 1990.
China has snapped back on President Trump's claims that the nation has violated its trade agreement with the US, now alleging the United States is in violation of its trade truce.
The US Bureau of Labor Statistics (BLS) is due to release the May jobs report this Friday, June 6.
To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.
First up, US stocks kicking off the month in the red. The week starts the month, coming after the S&P 500 closed out its best May since 1990. Of course, that coming amid strong tech earnings on Wall Street and an easing in trade tensions. But for investors wondering how June typically performs, it's not so good. Data going back to 2000 show that June is historically the third worst performing month for the S&P 500.
Plus, US-China trade tensions are heating up. Over the weekend, China responded to President Trump's claims that China has violated its agreement with the US. China now says the US has violated its trade truce and is vowing to respond in kind.
And sticking with trade and tariffs, steel and aluminum stocks are on the move this morning. President Trump says he's doubling levies on the metals.
That's right. Investors are also looking ahead to big economic data this week. The May payrolls report is expected to show that 125,000 jobs were added last month. That is well below the 177,000 jobs that were added in the month of April. Markets will be watching closely for any signs that the labor market is worsening due to tariffs and broader uncertainty around trade policy.
