hh5800 Stock index futures fell on Tuesday, a day after data showed that activity in the manufacturing sector contracted for a second-straight month in May, raising concerns about weaker economic growth. S&P 500 futures ( SPX ) -0.5% , Nasdaq 100 futures ( US100:IND ) -0.
6% and Dow futures ( INDU ) -0.6% . The 10-year Treasury yield ( US10Y ) was unchanged at 4.
39%. The 2-year yield ( US2Y ) was flat at 4.82%.
See how other yields trade across the entire yield curve here . The major market averages ended Monday’s session in a mixed fashion, as market participants observed a noticeable move lower in Treasury yields. "Yesterday, the rates market saw a major rally after the ISM manufacturing print was noticeably weaker than expected.
That led to a fresh round of anticipation that the Fed would still cut rates this year," Deutsche Bank's Jim Reid said. "The report (ISM manufacturing) was definitely one that dampened optimism about the state of the U.S.
economy right now. And it follows a run of weaker U.S.
data over recent days, including the spending data on Friday and the negative Q1 GDP revisions on Thursday," Reid added. ISM Manufacturing PMI slipped to 48.7 in May vs.
49.8 expected and 49.2 prior, the Institute for Supply Management said on Monday.
(A reading below 50 indicates economic contraction). "The ISM manufacturing slipped again in May. And a plunge in new orders signals more bad news ahead," Pantheon Macroeconomics said.
Traders are now waiting for the April Job O.
