Dow Jones Industrial Average futures implied an opening loss of about 24 points. Dow futures fell 49 points or 0.2%. S&P 500 lost 0.2%. Nasdaq 100 futures lost 0.5%.
The S&P 500 and Dow each gained at least 3% last week while the Nasdaq Composite advanced 1.8% to close out May. Those gains were propelled by increasing bets by traders that the global economy will successfully reopen after the coronavirus forces a shutdown of most economic activity.
Last week’s gains led the major averages to their first back-to-back monthly advances since late 2019. The Dow and S&P 500 gained 4.3% and 4.5%, respectively, for May while the Nasdaq Composite advanced 6.8%.
