In anticipation of a report on private payrolls, U.S. stock index futures increased as the price of oil declined.
Brent crude prices fell by more than 2% before a meeting of major producers hoping that Saudi Arabia will increase supply. The ADP National Employment report is expected to show U.S. private payrolls rose by 300,000 jobs last month. After rising by 247,000 in April, despite a tight labor market and tightening financial conditions.
Fears around the impact of interest rate hikes, the war in Ukraine, yields have pressured stock markets recently, with the benchmark S&P 500 index (.SPX) and the tech-heavy Nasdaq (.IXIC) both on course for a weekly decline of more than 1%.
Hewlett Packard Enterprise Co (HPE.N) dropped 6.1% among individual stocks. The IT and hardware company underperformed analysts’ expectations for second-quarter results.
-Reuters.
