U.S. markets drifted lower before the bell today as investors await a trove of labor market data this week, according to the Associated Press. Futures for the S&P 500 and the Dow Jones Industrial Average each fell about 0.3% before the bell.
A handful of companies are still reporting earnings ahead of this week’s highlight event, Friday’s May jobs report.
Bath & Body Works tumbled more than 7% before the bell, even as the retailer beat Wall Street’s first-quarter sales and profit targets and raised guidance.
Designer Brands, the owner of the Designer Shoe Warehouse store chain, slipped more than 9% after its first-quarter profit came in below analyst forecasts.
The yield on the 10-year Treasury stabilized at 4.38% early this morning. On Monday, it fell to 4.39% from 4.50% late Friday.
U.S. benchmark crude oil lost $1.38 to $72.84 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, gave up $1.24 to $77.12 per barrel.
The U.S. dollar weakened as doubts about the U.S. economy raised expectations that the Federal Reserve will cut rates this year. The dollar slipped to 154.89 Japanese yen from 156.10 yen.
