US pre-open: Futures mixed following G7 tax reform agreement

Wall Street futures were little changed ahead of the bell on Monday despite ongoing optimism regarding the US economy reopening in the summer.

As of 1245 BST, Dow Jones futures were up 0.09%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.05% and 0.19% lower, respectively.

The Dow Jones closed 179.35 points higher on Friday after a key jobs report showed the US unemployment rate had dropped to 5.8% in May and that 559,000 jobs had been added in May.

In focus ahead of the bell, G7 nations reached an agreement on global tax reform over the weekend, pushing for the world's largest firms to shell out a minimum of 15% tax on earnings, lower than Joe Biden's initial suggestion of a minimum 21% tax rate.

Market participants will also be looking ahead to inflation data later in the week, with May's consumer price index slated for release on Thursday.

On the macro front, consumer credit change numbers for April will be released at 1900 BST.

In the corporate space, tech stocks were in the red prior to the open, with the likes of Zoom and Tesla both trading lower and weighing on the Nasdaq Composite, while Visa stock traded higher on the back of an upgrade from analysts at Piper Sandler.

Speculative stocks like GameStop, AMC and BlackBerry will also be in focus again this week after all ended the week in the red despite massive gains.