The headlines of Fox Business Flash are here. See what clicks on FoxBusiness.com.
Stock contracts were reached on Thursday, one day after the Dow Jones industrial average set a new record as the US government formally announced that President-elect Joe Biden would become the country’s 46th Commander-in-Chief.
Dow Jones Industrial Futures rose 112 points, a 0.4% gain, while the tech Nasdaq rose 0.8% after the sell-off on Wednesday. The broader S&P 500 also climbed, up 0.5%.
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| Ek: DJI | DOW JONES AVERAGE | 30829.4 | +437.80 | + 1.44% |
| I: COMP | NASDAQ COMPOSITION INDEX | 12740.793892 | -78.17 | -0.61% |
| SP500 | S&P 500 | 3748.14 | +21.28 | + 0.57% |
Unemployed claims dropped unexpectedly, with the first time the files came in at 787,000, compared to estimates of 800,000. Continued claims amounted to 5.07 million, less than 5.2 million. ADP said on Wednesday that the US lost 123,000 jobs in December, compared to expectations for a profit of 88,000, as the pandemic continues to devastate the economy.
European indices also rose, with the Euro STOXX rising 0.3%, while the German DAX and the French CAC 40 rose 0.4% and 0.6% respectively.
DOW CLOSES NEW RECORD AS BANKS RALLY, NESDAQ DECREASES MEASURED
SOCIAL MEDIA IN GAME
Social media shares Twitter and Facebook could see excessive attention on Thursday after both platforms, along with Facebook-owned Instagram, suspended President Trump’s account on Wednesday.
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| TWTR | TWITTER INC. | 53.26 | -0.62 | -1.15% |
| FB | FACEBOOK INC. | 263.31 | -7.66 | -2.83% |
The move by Twitter comes after the social media giant removed a video tweeted by the president, in which he urged protesters storming the Capitol to ‘go home’, while insisting that the 2020 election ‘stolen’.
Economic reports in the spotlight
A number of economic reports will be released on Thursday, including the further investigation into the trade and the weekly report of the natural gas supply.
According to trade analysts surveyed by Refinitiv, the trade balance was $ 68.1 billion, lower than the estimate of $ 65.2 billion.
Other important economic reports that will be released on Thursday include the ISM index of non-manufacturing industry and the weekly report of natural gas supplies.
BITCOIN CAN CLOSE SIX DIGITS, says JPMORGAN – BUT THERE IS A CATCH
In other asset classes, bitcoin rose above the $ 37,000 level in morning trading.
Oil and gold also rose, with West Texas Intermediate crude rising above $ 50 a barrel, while gold reached $ 1,917.10 an ounce.
GET FOX BUSINESS ON THE GO by clicking here
Fox News’ Brooke Singman contributed to this story.