S&P 500 futures edged higher Tuesday evening, pointing to a fifth straight day of gains as the market digests fresh records and looks ahead to the first batch of labor market data this week.
As of 6:15 p.m. ET, S&P 500 futures were up 0.2%. Nasdaq 100 futures added 0.3%, and Dow futures were flat. The cash session saw the S&P close above 6,000 for the first time — settling at 6,028 — as AI and energy stocks led the charge. The Nasdaq gained 1.3%, while the Dow lagged with a 0.1% slip.
Here’s what to watch Wednesday: JOLTS job openings for April land at 10:00 a.m. ET. Consensus expects 7.6 million openings, down from 7.8 million in March. That’s not a market-mover on its own, but after last month’s shock drop to 7.4 million (the lowest since February 2021), any further weakness would reignite recession chatter. The Beige Book follows at 2:00 p.m. ET — look for language on labor market tightness and wage pressures.
In single-stock movers, Nvidia continued its post-earnings recovery, up 2.8% on the day. AMD gained 3.1% after announcing its next-gen XPU chip will enter production ahead of schedule. GameStop was flat after last week’s +50% earnings pop — options volume has cooled, suggesting the gamma squeeze narrative is fading for now.
Energy is the sector to watch Wednesday. WTI crude closed above $95 for the first time since April, and oil stocks rallied in sympathy. Exxon Mobil gained 2.1% and Chevron added 1.8%. If Brent keeps grinding toward $100, energy could become the leadership trade for June.
