Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Stock futures continued to rally until October on stimulus expectations

Stock futures continued to rally until October on stimulus expectations



U.S. equity futures indicate a higher open on Wall Street before the first October trading session.

Major futures indices suggest a gain of 0.8%.

GET THE FOX BUSINESS BUSINESS BY CLICKING HERE

On Wednesday, prospects for further support from Congress for the economy helped drive day trading on Wall Street.

Economic data released on Thursday could determine market direction.

The estimate for weekly unemployment claims is that 850,000 people could have filed for the first time unemployment benefits, down from 20,000 from the previous week.

Personal income and expenditure reports for August as well as the September ISM Labor report are also on the docket.

US PRIVATE EMPLOYERS ADD 749,000 SEPTEMBER JOBS, TOPPING EXPECTATIONS

A report from payroll processor ADP on Wednesday said the hiring of private employers was accelerated this month, with 749,000 jobs added compared to economists ’expectations for 605,000.

Raised hopes for a broader report of the federal government’s jobs, coming up on Friday. Economists expect employment to slow down to 850,000 from 1

.4 million in August.

This month’s jobs report will be given more importance than ever before as it was the last to be released before Election Day in November.

THE TOKYO TRADING STOPS OVER SYSTEM FAILURE

Trading on the Tokyo Stock Exchange was suspended Thursday due to a system problem for the transmission of market information. Most other markets in Asia are closed for national holidays.

The Tokyo Stock Exchange said all trades were halted due to the crisis, and will not resume for the rest of the day. It is not clear when this will be resolved and the system will work again.

In Europe, London’s FTSE gained 0.9%, Germany’s DAX rose 0.2% and France’s CAC added 0.6%.

The S&P 500 rose 0.8% to 3,363.00. The Dow Jones Industrial Average gained 1.2% to 27,781.70, and the nasdaq mix 0.7%, up 11,167.51.

It’s more annoying Security Search Change Change the%
I: DJI DER JONES AVERAGES 27781.7 +329.04 + 1.20%
SP500 S&P 500 3363 +27.53 + 0.83%
I: COMP NASDAQ COMPOSITE INDEX 11167.506924 +82.26 + 0.74%

This was the last day of a strong quarter for the market, with the S&P 500 gathering 8.5% to follow its 20% spring break.

Ongoing support from the Federal Reserve has helped drive gains, while the central bank has relied on whatever strategy is needed to support markets and the economy. After lowering interest rates to almost zero, the Fed said within a quarter it could keep interest rates low even after inflation ran above its target level.

Other recent concerns include rising tensions between the United States and China, as well as uncertainties surrounding the upcoming US election.

CLICK HERE TO READ MORE IN FOX BUSINESS

In energy trading, the U.S. benchmark crude lost 26 cents to $ 39.96 a barrel on electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, fell 23 cents to $ 42.07 a barrel.

The Associated Press contributed to this article.


Source link