Wall Street begins June on a cautious note. US stock futures were little changed Sunday evening after a powerful May rally pushed major indexes to fresh record highs.
Dow and S&P 500 futures hovered near the flatline in overnight trading, according to Yahoo Finance. Nasdaq 100 futures edged up 0.1%.
The Nasdaq Composite surged more than 8% in May, outperforming its peers as technology shares continued to lead the market higher. The S&P 500 advanced roughly 5% during the month. The Dow Jones Industrial Average gained nearly 3%.
Oil prices also moved on Sunday. US benchmark West Texas Intermediate crude rose 1.8% to just below $89 a barrel. Brent crude gained 1.5% to $92. Despite the weekend rebound, WTI logged its biggest monthly decline since April 2025, falling nearly 17% in May.
The oil market moves came alongside geopolitical developments. President Donald Trump said he would convene advisers in the Situation Room to make a "final determination" on next steps regarding Iran, while reiterating that Iran must never obtain a nuclear weapon. He also called for the immediate reopening of the Strait of Hormuz, a critical artery for global energy shipments.
Investors are now looking ahead to Friday's nonfarm payrolls report. The employment data could provide fresh clues about labor market strength and help shape expectations for the Federal Reserve's interest-rate path in the months ahead. The payrolls report is considered one of the most closely watched economic releases of any given month, and its results often move markets quickly after the numbers are released.
MarketWatch also noted that Wall Street is looking to stretch the market's record-setting rally into June, though futures positioning suggested investors were not rushing to add positions at the start of the new trading week.
