U.S. stock futures on Wednesday signaled a lower open, putting the market on track to extend the prior day's decline as investors stayed cautious ahead of big economic releases later this week.
S&P 500 futures fell by 5.90 points, or 0.3%, to 2,089, while Dow Jones Industrial Average futures dropped by 51 points, or 0.3%, to 17,723. Nasdaq-100 futures shed 9.75 points, or 0.2%, to 4,514.50.
On Tuesday, the S&P 500 closed down 0.1%, while the Dow lost 0.5%, as investors turned skittish ahead of key events this week. The S&P finished May up 1.5%, its third straight monthly gain, and the Dow edged up 0.1% for its fourth monthly advance in a row.
"Investors decided to take some risk off the table ahead of a number of key economic issues that present their credentials this month -- the OPEC and ECB meetings on Thursday and non-farm payrolls on Friday," said David Buik, market commentator at Panmure Gordon & Co., in a note.
Members of the Organization of the Petroleum Exporting Countries are due to meet Thursday, and the European Central Bank also has a meeting that day. The U.S. jobs report for May is due Friday, with economists polled by MarketWatch expecting the economy added 155,000 non-farm jobs.