Monday, August 2, 2021
HomeNewsEquity futures are flat before earnings and employment data grow - News

Equity futures are flat before earnings and employment data grow – News


US stock futures were stable on Wednesday with overnight trading as investors prepared more corporate earnings and labor market data.

Dow futures fell only 9 points. S & P 500 futures were flat and Nasdaq 100 futures rose only 0.04%.

on WednesdayThe Dow Jones Industrial Average rose 44 points as Apple’s share price rose 2.4%. The S & P 500 rose 0.12% after setting a daytime record early in the session. The Nasdaq Composite index fell 0.2%, with relatively poor performance. However, the Nasdaq-100 closed at a record high.

The small benchmark Russell 2000 lost 1.7% on Thursday, with weekly losses exceeding 3.4%.

Federal Reserve Board Chair Jerome Powell, in testimony from the US Parliamentary Financial Services Commission, has calmed concerns that central bank simple policies will soon be rolled back in the face of inflation. ..The· Producer prices from June Inflation was higher than expected on Thursday.

“At the June meeting, the Commission discussed the progress of the economy towards its goals since it adopted the Asset Purchase Guidance in December last year. Reaching the” substantial further progress “standard It’s still a long way to go, but participants are hoping that progress will continue, “Powell said.

Powell will testify in the Senate on Thursday.

Jim Paulsen, chief investment strategist at Loithold Group, said, “Federal Reserve Board Chair Powell eases concerns by re-suggesting that these bad inflation reports are only temporary. It helped me. ” “Obviously, bond investors are buying the Fed’s inflation story.”

The earnings season continued on Wednesday, with the following strong bank performances: Bank of America And other companies. However, the stock price reaction remained restrained. All 12 S & P 500 companies, which announced their quarterly earnings until this Wednesday morning, are above estimates of earnings per share, but the group has seen an average decline of 0.56% in response.

The report will continue to be rolled in on Thursday. Morgan Stanley, US Bancorp., UnitedHealth, Cintas And progressive All release results.

Investors will also get a glimpse of a recovery in US labor conditions on Thursday.

The first application for unemployment insurance last week will be announced Thursday at 8:30 am. Economists polled by Dow Jones expect their first unemployment benefit to be 360,000, compared to 373,000 for the week ending July 3.

Become a smarter investor CNBC Pro..
Get stock selection, analyst phone calls, exclusive interviews, and access to CNBCTV.
Sign up and get started Free trial today

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments