U.S. Stock Futures Mostly Flat to Start a New Week

• Final June Services PMI data expected this week, with S&P at 51.3 previously and ISM Services anticipated to dip slightly from 54.5
• Key economic releases scheduled include Trade Balance (Tuesday), Wholesale Inventories and Consumer Credit (Wednesday), and June Existing Home Sales with Weekly Jobless Claims (Thursday)
• Fed meeting minutes to be released Wednesday, offering insight into new Fed Chair Kevin Warsh's approach to employment and inflation targets

Summary: U.S. Stock Futures Mostly Flat to Start a New Week

U.S. stock futures opened slightly lower to begin the week, with the Dow retreating marginally from record-high levels achieved the previous Friday. The S&P 500, Nasdaq, and Russell 2000 indices all showed modest declines in early trading. Despite the minor pullback, major indexes continue to reflect strong year-to-date gains of approximately 10-20% as markets progress through mid-2026.

Key Market Developments:

Oil prices remain stable at pre-conflict levels, with WTI crude trading around $68 per barrel and Brent crude below $72 per barrel. International envoys are negotiating in Doha to maintain access to the Strait of Hormuz for oil tanker traffic, though regional hostilities persist at reduced intensity.

Economic Data This Week:

The final June Services PMI reports are scheduled for release, with both S&P and ISM Services data expected to remain above the 50 expansion threshold. The prior S&P Services PMI reading was 51.3, while ISM Services is anticipated to decline slightly from 54.5.

Additional economic indicators include May U.S. Trade Balance (Tuesday), May Wholesale Inventories and Consumer Credit (Wednesday), and June Existing Home Sales alongside Weekly Jobless Claims (Thursday).

Federal Reserve Focus:

Wednesday will feature the release of minutes from the latest Federal Reserve meeting—the first under new Chair Kevin Warsh. Market participants anticipate insights into Warsh's approach to balancing employment and inflation mandates.

Overall, traders expect a relatively quiet summer trading week following the July 4th holiday.