With about 1½ hours to go before the opening bell, the major stock indexes are poised to pick up where they closed out the month before the extended Memorial Day weekend. We don’t have potential market-moving economic reports until after the opening bell today with the PMI Manufacturing Final at 9:45 am EST followed by the ISM Manufacturing Index as well as Construction Spending at 10:00 am.
We also have one of the Fed Members, Randal Quarles, speaking at 10 am with the potential to continue my recent “tapping the brakes” theory via gradual but increasing talk of walking back the Fed’s pledge to continue to keep rates near zero through 2023. Updated 60-minute charts below.
NQ 60m June 1st
ES 60m June 1st
RTY 60m June 1st/RTY