U.S. Futures Slightly Higher after Major Indexes saw Gains

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Stock futures are mildly higher in early morning trading after major indexes saw gains in May. Futures on the Dow Jones Industrial Average rose 68 points. SP 500 futures and Nasdaq 100 futures also both traded in marginally positive territory. The moves in overnight trading come after the bluechip Dow and the SP 500 gained 1.93 and 0.55 in May, respectively, to mark their fourth consecutive positive month. The SP 500 closed Friday just 0.8 off its record high.

The small cap Russell 2000 rose 0.11 in May to post its eighth positive month in a row its longest monthly win streak since 1995. The Nasdaq gained 2.06 last week to post its best weekly performance since April. However, the techheavy composite lost 1.53 in May, breaking a 6month win streak.

A key inflation gauge the core personal consumption expenditures index rose 3.1 in April from a year earlier, faster than the forecasted 2.9 increase. Despite the hotterthanexpected inflation data, treasury yields fell on Friday. Investors are awaiting the Federal Reserves meeting scheduled for June 1516. Key for the markets is whether the Fed begins to believe that inflation is higher than it expected or that the economy is strengthening enough to progress without so much monetary support. Mays employment report, set to be released on Friday, will provide a key reading of the economy. According to Dow Jones, economists expect to see about 674,000 jobs created in May, after the much fewerthanexpected 266,000 jobs added in…

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