US Stock Futures Mixed Ahead of Market Open on Thursday

Investing.com – U.S. stock futures were mixed ahead of the market open on Thursday (1st), as investors traded cautiously ahead of the non-farm payrolls report. Although two important Federal Reserve officials said on Wednesday (May 31) that interest rate hikes should be suspended in June to focus on economic data performance, recent strong data in the United States showed that the Fed’s task of reducing inflation is still arduous.

Underscoring the sweltering labor market, ADP employment numbers released earlier beat expectations by 278,000 versus expectations of 170,000.

The subsequent release of initial jobless claims also showed the same signs. The number of initial jobless claims in the United States in the week ended May 27 was 232,000, slightly lower than the expected 235,000, and remained near historical lows.

Also, after the market close, chip company Broadcom will report earnings.

As of 21:01 Hong Kong time (09:01 am Eastern Time), Investing.com’s US stock quotes showed that the stock market fell 85.5 points; and rose 1.3 points.

Individual stocks before the market opens

C3 Ai Inc (NYSE: ) fell 18.77%%. It recorded a loss in the fourth fiscal quarter. The performance guidance for the 24th fiscal year was lower than market expectations.

Department store Nordstrom (NYSE: ) rose 3.5 percent and reiterated its guidance for fiscal 2023.

Macy’s (NYSE: ) tumbled 10%, missing expectations and lowering its full-year outlook as consumers cut back on non-essential spending amid high inflation.

U.S. discount retailer Dollar General (NYSE: ) tumbled 9.4%. The company lowered its full-year same-store sales forecast, also because customers tightened their spending due to inflation.

Cloud-computing software company Salesforce (NYSE: ) fell 6.6 percent after reporting a 13-year slowdown in quarterly growth as companies retrenched spending.

Target (NYSE: ) fell 1.6% after JPMorgan Chase & Co downgraded Target to Neutral from Overweight, citing concerns about margins going forward.

CrowdStrike (NASDAQ: ) fell 10% after the company reported that revenue rose just 42% year-over-year, up from 61% a year ago.

Okta (NASDAQ: ) tumbled 19% after CEO Todd McKinnon predicted tough times ahead for the company, despite the first quarter.

Lucid Group Inc (NASDAQ: ) fell 13.79%. Lucid said that it plans to raise US$3 billion in allotment, of which US$1.8 billion comes from the allotment of shares to the major shareholder Saudi Arabian sovereign wealth fund.

Tesla (NASDAQ: ) fell 0.65%, while FAANMG was little changed.

Chinese stocks

China Internet ETF KraneShares CSI China Internet (NYSE: ) rose 0.36%.

Bilibili (NASDAQ:) (HK: ) fell 3.83%, although the financial report showed that Bilibili’s total net revenue in the first quarter was 5.1 billion yuan (about 738.2 million U.S. dollars), an increase compared with the same period in 2022. 0.3%. The net loss was 629.6 million yuan (about 91.7 million U.S. dollars), a 72% reduction compared to the same period in 2022. Not in accordance with the US General Accounting Standards (Non-GAAP), the adjusted net loss was 1 billion yuan (approximately US$150.1 million), a 38% reduction compared to the same period in 2022.

Weilai Automobile (NYSE:) (HK: ) fell 3.45%. The delivery volume of Weilai Automobile in May was 6,155, a year-on-year increase of 95.3%, and a month-on-month decrease of 7.6%, a month-on-month decline for two consecutive months.

Ideal Automobile (NASDAQ:) (HK:) fell 0.52%. Ideal Automobile delivered a total of 28,277 new cars in May, a year-on-year increase of 146.0% and a month-on-month increase of 10%. Monthly sales exceeded 10 billion yuan for the first time.

Xiaopeng Motors (NYSE:) (HK: ) fell 0.11%. Xiaopeng Motors delivered a total of 7,506 new cars in May, a year-on-year decrease of 25.87% and a month-on-month increase of 6%. Xiaopeng G6 will start pre-sale on June 9.

other markets

financial report

Before the market opens: Hormel Foods (NYSE: ), Conns (NASDAQ: ), SpartanNash Co (NASDAQ: ).

收市後：Lululemon Athletica Inc (NASDAQ:)，MongoDB (NASDAQ:)，Broadcom Inc (NASDAQ:)，ChargePoint Holdings Inc (NYSE:)，Zscaler Inc (NASDAQ:)，Dell Technologies Inc (NYSE:)，Five Below Inc (NASDAQ:)，Guidewire Software Inc (NYSE:)。

Full earnings report today at Investing.comEarnings Calendar。

Economic Data and Events

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Editor: Liu Chuan