U.S. futures rose higher on Thursday after new data showed the labor market was continuing its slow and stagnant recovery.
Futures linked to the S&P 500 rose 0.4%, suggesting that the broad market meter could rise after the opening clock of New York, which would break two consecutive days of muted losses. Contracts linked to the technology-heavy Nasdaq-100 rose 0.5%, and those linked to the Dow Jones industrial average rose 0.3% higher.
Continued progress to pass a US $ 1.9 billion stimulus package strengthens sentiment as investors expect it to further dampen the economic impact of Covid-19 closures. Although some data have shown signs of improvement in the labor market, investors expect the increased figures on unemployment claims to support the need for more stimulus.
Fresh data showed that 793,000 Americans applied for unemployment benefits for the first time in the week ended February 6th. New applications for the previous week were revised higher to 812,000.
“Of course, there are still a significant number of jobs lost, and there is a clear need for more fiscal support,” Shoqat Bunglawala, head of multi-asset solutions, internationally, told Goldman Sachs Asset Management before the data was released. was made.