LONDON, June 1 |
LONDON, June 1 (Reuters) – * U.S. stock index futures
pointed to a lower open on Wall
Street on Friday, with futures for the SP 500, the
Dow Jones and the Nasdaq 100 falling 0.5 to 0.7
percent.
* U.S. jobs growth probably snapped back in May from
weather-related distortions that had slowed hiring, suggesting
the economy was still expanding moderately despite strong
headwinds from Europe.
* China’s slowdown worsened in May as its factories saw a
further deterioration in demand at home and abroad, dealing a
new blow to a global economy struggling with a sharp downturn in
Europe and a faltering recovery in the United States.
* Exxon Mobil Corp, the world’s largest publicly
traded energy company, plans to build a multi-billion dollar
chemical plant in Texas to take advantage of cheap North
American shale gas, according to a U.S. environmental filing
seen by Reuters.
* The Commerce Department releases April personal income and
consumption data at 1230 GMT. Economists expect a 0.3 percent
rise in income and a 0.3 percent increase in spending. In March,
income was up 0.4 percent and spending rose 0.3 percent.
* Markit Economics Limited releases at 1258 GMT U.S. final
Markit Manufacturing PMI for May. The index read 53.94 in the
flash (preliminary) May release.
* Growing concern over the past actions of Wal-Mart Stores
Inc executives and board members threatens to cast a
pall over the world’s largest retailer’s annual shareholder
meeting and 50th anniversary party on Friday.
* The Institute for Supply Management releases at 1400 GMT
its May manufacturing index. Economists expect a reading of 53.9
versus 54.8 in April.
* Google Inc accused Microsoft Corp and
Nokia of conspiring to use their patents against
smartphone industry rivals, and said it had filed a formal
complaint with the European Commission.
* The Commerce Department releases April construction
spending numbers at 1400 GMT. Economists forecast a rise of 0.4
percent, compared with a 0.1 percent increase in March.
* The Economic Cycle Research Institute releases at 1430 GMT
its weekly index of economic activity for May 25. In the prior
week, the index read 123.1.
* Brent crude oil fell to its lowest since October
2011 as weak manufacturing activity data from the world’s
second-largest oil user China raised concern of a slowdown in
demand.
* European shares fell 0.4 percent as lingering
fears over the debt-ridden economies of Greece and Spain, which
in May pushed major markets to their worst monthly loss since
last August, weighed on investors’ minds.
* U.S. stocks fell modestly on Thursday to close out their
worst month since September as investor sentiment sank on
Europe’s deepening credit problems.
* The Dow Jones industrial average dropped 26.41
points, or 0.21 percent, to 12,393.45. The SP 500 Index
fell 2.99 points, or 0.23 percent, to 1,310.33. The Nasdaq
Composite lost 10.02 points, or 0.35 percent, to
2,827.34.
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