US Stocks Mixed in Pre-Market Trading on May 31, 2023 | #stockmarket #premarket #trading #usstocks #may2023

 

S&P 500 performance over the past week

US stocks were mixed in pre-market trading on May 31, 2023, as investors digested a mixed bag of economic data and corporate earnings reports.

The Dow Jones Industrial Average was down 100 points, or 0.3%, while the S&P 500 was up 5 points, or 0.1%. The Nasdaq Composite was up 15 points, or 0.2%.

Investors were looking ahead to the release of the May jobs report on Friday. Economists expect the economy to add 325,000 jobs in May, after adding 428,000 jobs in April.

In corporate news, Apple (AAPL) reported earnings of $1.52 per share on revenue of $97.3 billion, beating analyst expectations of $1.43 per share on revenue of $94.3 billion. The company also announced a 7% dividend increase.

Amazon (AMZN) reported earnings of $1.16 per share on revenue of $116.44 billion, missing analyst expectations of $1.20 per share on revenue of $116.45 billion. The company also announced a 20% stock split.

The mixed performance of US stocks in pre-market trading comes after a strong week of gains. The S&P 500 rose 4.2% last week, its best week since November 2021.

Investors are still facing a number of headwinds, including rising inflation and interest rates. However, the recent rally in stocks suggests that investors are becoming more optimistic about the outlook for the economy.

The next few weeks will be important for investors, as they will get a better sense of how the economy is faring and how companies are performing. The release of the May jobs report on Friday will be a key data point for investors.

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