US equity futures were trading nearly flat before the opening bell on Tuesday as traders prepared for a significant release of economic data, including a comprehensive job openings survey. The Dow Jones Industrial Average futures experienced a slight decline of 0.3%, while S&P 500 futures slipped by 0.1%.
In contrast, Nasdaq futures remained stable. Oil prices also witnessed a downturn, with front-month global benchmark North Sea Brent crude dropping by 1.2%, landing at $70.85 per barrel. Meanwhile, US West Texas Intermediate crude fell by 1.3%, reaching $67.25 per barrel. Key indicators are on the horizon, with the Purchasing Managers' Manufacturing Index set to be published at 9:45 am ET, predicted to show a contraction at 47.0 for September, a decrease from a reading of 47.9 in August based on estimates compiled by Bloomberg.
Additionally, the Institute for Supply Management Manufacturing Index, due for release at 10 am ET, is anticipated to rise to 47.6 in September from a previous month’s reading of 47.2. Construction spending is projected to increase slightly by 0.2% in August, following a 0.3% decline in July. Analysts predict that job openings, according to the Labor Department's Job Openings and Labor Turnover Survey, will arrive at 7.64 million in August, a reduction from 7.673 million in July. Across global markets, Japan's Nikkei index saw a robust increase, closing 1.9% higher.
In contrast, Chinese and Hong Kong markets remained closed due to national holidays. In the European markets, the UK's FTSE 100 gained 0.4%, and Germany's DAX index saw a modest increase of 0.6% during the early afternoon trading session. In the equities sector, SITE Centers (SITC) shares soared by 55% following the company's announcement of the successful spin-off of Curbline Properties.
The Beachbody Company (BODI) shares surged 19% after the corporation declared a reduction of its workforce by 33% and a transition towards an affiliate business model. On a downward trajectory, IGM Biosciences (IGMS) shares plummeted by 29% as the firm indicated a strategic shift away from oncology-focused initiatives.
Similarly, CPI Card Group (PMTS) shares experienced a 20% decline after announcing a secondary offering of common shares priced at $21 per share..