00:00 Speaker A

First up, US stock futures wavering this morning as investors await key labor market data and a potential call between President Trump and China's Xi Jinping. The US payrolls report for May expected to show slowing job growth and follows a weaker than expected ADP private payrolls print. And a little bit of weakness in the jobless claims data. Any further weakness could bolster calls for the Fed to cut rates. Meantime investors will also be searching for any progress on trade, with the call between Trump and Xi Jinping reportedly happening as soon as this morning according to Chinese state media.

00:44 Speaker B

Plus, investors will closely be watching results from chipmaker Broadcom. Those are out after the closing bell for the latest read into the AI trade. The company's soaring share price has catapulted the chipmaker into the ranks of the world's most valuable companies, increasing pressure on the company's results tonight. More than half of the stocks, $540 billion rally since April. And that low that has come in the past month amid signs that heavy spending on artificial intelligence gear is poised to continue.

01:23 Speaker A

And stablecoin issuer Circle is set to go public today. The crypto company raising $1.1 billion in an upsized initial public offering that was priced above market range and a sign that stablecoin issuers are winning greater acceptance. The company now has a fully diluted valuation of $8.1 billion. The offering coming as the Senate is set to advance industry backed stablecoin legislation which would add more legitimacy to the company and to the industry.