Equity futures held flat as manufacturing data contracted.

Equity futures remained near the flat line as investors digested the latest corporate earnings results and shifted focus back to macroeconomic indicators. Domestic consumer resilience remains notable, with card spending per household rising nearly 5% year-over-year despite elevated energy costs. However, broader economic indicators showed mixed results; weekly jobless claims decreased by 3,000, while the Philly Fed manufacturing index tumbled sharply to -0.4% in May from April's 26.7% expansion. In options activity, E-mini S&P 500 futures call volume reached 40%, while implied volatility across major indices contracted significantly, with Nasdaq-100 implied volatility dropping to 18%. In digital assets, Bitcoin futures experienced a compressed, range-bound session between 77,000 and 80,000, though trading volume was robust with nearly 50,000 Micro Bitcoin contracts changing hands.