mixed data cloudy Fed Policy Outlook

June 6 (Reuters) – U.S. stock index futures fell on Tuesday as investors assess the chances of a break in the Fed’s rate hike cycle. Contrasting data increased uncertainty about the outlook for monetary policy.

Dow futures fell 0.12% at 12:12 p.m. Moscow time, the S&P 500 fell 0.1%, the Nasdaq 100 was inactive.

The PMI index, reflecting the activity in the services sector of the US economy, amounted to 50.3 pts in May against 51.9 pts a month earlier.

This suggests that the tightening of monetary policy by the Fed is cooling the world’s largest economy, but good data on the labor market obscure the outlook for the regulator’s policy.

Investors focus on next week’s inflation data.

According to the CME tool FedWatch, markets are pricing in a 76% chance that the Fed will hold interest rates in the 5%-5.25% range.

Apple Inc shares fell 0.5%, having since hit their highest levels in the previous session. The company on Monday unveiled its Vision Pro augmented reality headset, its biggest bet since the launch of the iPhone.

Oil stocks like Exxon Mobil and Chevron fell about 1% as oil prices fell 2%.

The original message in English is available at the code: (Sruti Shankar in Bangalore)