S&P Futures Flat as May Rally Runs: Nasdaq +8% and WTI at $88.83
SPY•S&P 500 futures held steady, with Dow futures down 30 points and Nasdaq 100 futures flat, after U.S. indexes posted May gains: Nasdaq +8%, S&P 500 +5%, Dow +3%. West Texas Intermediate crude rose 1.8% to $88.83 following a 17% May slump, as investors await Friday’s nonfarm payrolls.
1. Futures Performance
Futures tied to the S&P 500 were flat in overnight trading with Dow futures down 30 points and Nasdaq 100 futures unmoved as investors digested record highs for all three benchmarks.
2. May Index Rally
All three major U.S. equity indexes posted solid gains in May, led by the tech-heavy Nasdaq Composite’s 8% advance, followed by a 5% rise in the S&P 500 and a nearly 3% increase in the Dow Jones Industrial Average.
3. Oil Prices Rebound
West Texas Intermediate crude futures climbed 1.8% to settle at $88.83 a barrel after a 17% drop in May, marking the steepest monthly decline since April 2025 and reflecting shifts in geopolitical expectations.
4. Focus on Payrolls
Market participants are now focused on Friday’s nonfarm payrolls report for fresh insight into U.S. labor market strength and potential implications for Federal Reserve policy.
