DJIA futures down 22 points (Il Sole 24 Ore Radiocor) - New York, 06 Jun - US futures were becalmed as investors geared up for more jobs data and a monetary decision from the European Central Bank that could prove a landmark.

Wall Street hit new closing highs yesterday lifted by the tech sector as AI chip maker Nvidia broke through the 3 trillion dollar capitalisation mark for the first time. The S&P 500 and tech-heavy Nasdaq both closed at record highs while the Dow, which has less of a tech slant, ended up 0.2%.

Expectations are high the ECB today will deliver a 25 basis point interest rate cut and set the pace for more central banks to follow suit later in the year.

Investors are betting the Federal Reserve will make its first policy pivot in September, providing inflationary pressure in the meantime shows clear signs of subsiding.

Today's weekly jobless data will be monitored for confirmation of recent signs the labour market is softening thugh the main focus is already shifting to tomorrow's key payrolls report.

Strong labor market readings have stoked concern the Federal Reserve may have to keep interest rate cuts higher for longer as it strives to bring inflation down.

On the stocks front, shares in Nvidia are testing new record highs in premarket trade as AI frenzy continues to feed the tech sector. Its 10-1 stock split is planned for tomorrow.

Lululemon Athletica shares jumped more than 8% after the sportswear maker reported quarterly profit and revenue that beat expectations and raised a share buyback scheme. Discount retailer Five Below was down almost 16% after it cut its profit forecasts.

Futures on the Dow Jones were down 22.00 points, or 0.06%, S&P 500 futures were up 0.75 points, or 0.01%, while futures on the Nasdaq were 22.25 points, or 0.12%, higher.

AAA-Sje

(RADIOCOR) 06-06-24 13:46:21 (0367) 5 NNNN