U.S. stock index futures eased on June 5 as semiconductor shares softened after a strong run, with investors waiting for the May employment report to gauge Federal Reserve expectations. The Labor Department later said payrolls rose by 172,000 and unemployment held at 4.3%.
U.S. stock index futures slipped on Thursday as semiconductor shares weakened after a strong rally, while investors waited for the May U.S. employment report for clues on Federal Reserve policy.
Reuters reported that Nasdaq and S&P 500 futures were lower in premarket trading, with chipmakers including Nvidia, Intel, Micron, AMD and Broadcom among the names under pressure.
The move came as traders positioned for the Labor Department's monthly jobs release, which can quickly shift expectations for interest rates and the Fed's path.
Later in the morning, the U.S. Bureau of Labor Statistics said payroll employment increased by 172,000 in May and the unemployment rate was unchanged at 4.3%.
The same-day labor data gave markets a fresh read on the economy after the early futures decline, leaving chip stocks and rate-sensitive shares in focus for the rest of the session.
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