Stock futures are flat after muted Wall Street session

Trader on the New York Stock Exchange, June 2, 2021.

Source: NYSE

US stock futures were flat on Wednesday night after a quiet day of trading.

Futures for the Dow Jones Industrial Average rose 8 points or less than 0.1%. The futures on the S&P 500 and Nasdaq 100 also rose slightly.

During regular trading hours, the 30-share Dow rose just 25.07 points to close at 34,600.38. The S&P 500 and the Nasdaq Composite also ended the day up 0.14%.

“It is unclear whether this week’s flat S&P 500 index is a continuation of the easing of the holiday week break that the May malaise penetrates into June, or just part of a broader return to normal (ish) summer,” said Chris Hussey from Goldman Sachs. “Whatever the cause, the markets remain sluggish, especially after the bonanza of the capital markets and the procyclical reflation / recovery deals that shaped price movements until May.”

Energy stocks were the biggest winners on Wednesday, with Occidental Petroleum gaining 4.1%, Diamondback Energy gaining 2.5% and Marathon Oil gaining 1.4%. The broad Energy Select Sector SPDR ETF rose 2.1%.

The market, which is focused on the link between inflationary pressures and the reopening of U.S. companies, could be exposed ahead of Friday’s job report release, which is expected to show 671,000 additional non-farm payrolls in May, compared to the 266,000 jobs that that were added the month before, according to economists polled by Dow Jones.

The AMC trading frenzy continued Wednesday, with stocks rising more than 95% before close and an additional 7% after hours. Others got on the meme stick train, including Bed Bath & Beyond, which closed 62% higher, as well as Blackberry, which stock is up nearly 32%. GameStop was up 33.2%.

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