7:05 am: Inventory futures lessen, awaiting jobless promises
Stock futures pointed to losses at the open as investors braced for what could be a document-breaking number of People submitting for unemployment. The Dow Jones Industrial Common futures indicated an opening drop of additional than 100 details at Thursday’s open up. S&P 500 futures and Nasdaq-100 futures pointed to opening losses of about 1%.
The jobless claims info will be unveiled at 8:30 a.m. ET. The official consensus estimate from Dow Jones is calling for 1.5 million claims but Citigroup believes it may possibly be as large as 4 million. Either way, it is most likely to be a file.
On Wednesday, the Dow climbed nearly 500 points on hopes of a coronavirus stimulus monthly bill from congress, which was passed by the Senate late on Wednesday and will now head to the House of Reps. The S&P 500 also registered a gain, climbing 1.1%. The Nasdaq Composite was the relative underperformer, dipping .5%, as the so-connect with FAANG shares closed in the red. – Fitzgerald
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