U.S. stock futures rose on Thursday, marking a new trading record after the opening clock, as investors await data on unemployment benefits and comments from Federal Reserve Chairman Jerome Powell.
Futures linked to the S&P 500 climbed 0.3%. The broad market index closed on Wednesday at its 18th record. Nasdaq 100 futures have advanced 0.9%, indicating that technology stocks have risen.
Stocks started strong in the second quarter, with the S&P 500 rising 2.7% this month. The largest technology companies have moved forward as the bond market has calmed, easing concerns about high valuations of growth stocks. The remarks of Fed policymakers, released on Wednesday, underscored their intention to continue with easy monetary policy until the economy recovers more.
“The dynamics are still supportive of equities,” said Adrien Pichoud, portfolio manager and chief economist at SYZ Private Banking. “The Fed and central banks in general are seen as in no hurry to raise rates.”
The latest data on unemployment claims, which was released at 8:30 p.m. ET available will likely contribute to the evidence that layoffs are easing as an economic revival accumulates. Economists polled by The Wall Street Journal expect workers’ applications for initial jobless claims, a layoff proxy, to drop to 694,000 last week, from 719,000 the previous week.