US stock index futures United States They reported modest losses at the start of the session Thursday as investors prepared for a new set of economic results and reports, including weekly jobless claims. Market participants will listen to the chairman of the Federal Reserve, Jerome Powell, for the third time this week since his interview with “60 Minutes” from CBS.
How are the benchmarks?
Dow Jones Industrial Average Futures
YMM20,
-0.61%
They exchange 112 points, or 0.5%, at 24.407, those of the S&P 500 index
ESM20,
-0.61%
They traded 15.25 points, or 0.5%, at 2,953.25, while the futures on the Nasdaq-100
NQM20,
-0.47%
34.25 points less were traded to reach 9,451.25, a decrease of 0.4%.
The Dow Jones Wednesday
DJIA
+ 1.52%
recovered 369.04 points, or 1.5%, to finish at 24,575.90. The S&P 500
SPX
+ 1.66%
It rose 48.67 points, or 1.7%, to end at 2,971.61, its highest level since March 6, according to Dow Jones Market Data. Composed of Nasdaq
COMP,
+ 2.07%
It rose 190.67 points, or 2.1%, closing at 9,375.78.
What drives the market?
Markets will advance through an avalanche of economic reports on Thursday, including weekly results of jobless claims that bullish investors have largely ignored in favor of a gradual reopening of the US economy.
A weekly report on Thursday is expected to show that about 2.35 million people claimed unemployment benefits during the week ending May 16, which is expected to result in the total number of unemployed Americans during the COVID pandemic. -19 to almost 40 million depending on the season.
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This represents approximately one in five workers in the workforce.
Of course, the weekly figure represents a slowdown in the recent unpleasant trend of job loss, but it can still be a serious reminder of the cost that the viral pandemic has brought to the US economy in recent months.
In addition to unemployment claims due at 8:30 am EST, investors will be on the lookout for a survey of business conditions in the Philadelphia area, the Philadelphia Fed Index, to be submitted at the same time. Markit’s flash PMIs, which provide a quick reading of services and manufacturing activity for May, are expected at 9:45 a.m., while a report on sales of existing homes is expected in April at 10 a.m. as well as a composite measure of key economic indicators, including building permits and factory orders, at the same time.
Among Fed Stakeholders, Investors Will Seek “Listening to the Fed“Event with Powell and Fed Governor Lael Brainard at 2:00 pm, which will focus on” how the pandemic has changed job prospects, inflation and the transmission of monetary policy to households and businesses ”.
Before that, the president of the New York Fed, John Williams, will speak at 10 am and Fed Vice-President Richard Clarida will speak at 1 p.m.
On Wednesday, the publication of a report from the Fed meeting in April showed that policymakers have discussed how to convince the market that the central bank intends to maintain the federal funds rates, which are currently at between 0% and 0.25%. levels for a long time.
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What actions are targeted?
- Macy’s Inc.
METRE,
He said he appointed Felicia Williams as interim chief financial officer effective June 1. - L Brands Inc.
KG
-2.31%
announced a higher than expected first quarter loss and said it was “still determined” to divest from its Bath & Body Works business. - Aurora Cannabis Inc.
ACB
-12.96%
He said he was acquiring the American company Reliva LLC for about $ 40 million in a stock transaction. - Take-Two Interactive Software Inc.
TTWO,
+ 3.23%
The stocks were concentrated after the video game publisher beat Wall Street estimates. - Intel Corp.
INTC
+ 4.66%
On Wednesday, it announced that it had acquired Rivet Networks to boost Wi-Fi offerings for its PC products. - Before Thursday’s opening bell, the results of BJ’s Wholesale Club Holdings Inc.
BJ
+ 1.86%,
Hormel Foods Corp.
HRL
+ 1.26%,
PLC Medtronic
MDT
+ 1.08%,
Best buy
ABY
-2.32%
and TJX Cos.
TJX
+ 1.17%
They are expected.