Overseas Weakness Weighs on Stocks

Stocks are poised to open lower today amid weakness overseas.

S&P 500 futures are down about one-third of a percent, while European indexes have declined more than a full percentage point. Japan’s Nikkei, which had led global markets higher through mid-May, shed almost 4 percent and is now back to levels from early April.

Sentiment has been turning more cautious in the last two weeks on concerns that a better economy will prompt the Federal Reserve to reduce monetary stimulus. Investors will get more data at 8:15 a.m. ET as ADP releases its monthly non-farm payrolls report, followed by the Institute of Supply Management’s service-sector index at 10 a.m. ET.

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