Nasdaq Futures Dip, Oil Weakens in Early Trading

Key Facts

1Nasdaq futures point to a lower open for the tech-heavy index.

2Oil prices are trending lower in early trading.

Extending the selling pressure on tech stocks, Nasdaq futures point to a lower open for the index today, according to reports. Oil prices are also trending lower in early trading, reflecting a decline in risk appetite.

The decline comes amid renewed concerns over slowing global economic growth. Recent data showed Canada's inflation rate rising to 3.2% in May, above forecasts, per market data. Meanwhile, European PMI readings fell below 50, indicating contraction in both services and manufacturing activity.

Traders are focused on broad market moves in the absence of fresh catalysts. With continued pressure on equities and oil, the session could see further volatility as investors await upcoming economic data and central bank speeches in the days ahead.