Economic news

Stock Futures Rise after the Dow Closed at a Record

U.S. stock index futures rose early Thursday, after the Dow closed at a record. Futures contracts tied to the Dow Jones Industrial Average gained 90 points. S&P 500 futures advanced 0.26%, while Nasdaq 100 futures rose 0.36%. During the session, the Dow gained 97 points to end at a new closing all-time high. The 30-stock benchmark index also set a new intraday record after rising nearly 200 points at one point.

The S&P 500 inched 0.1% higher, while the Nasdaq Composite slid 0.4% for its fourth straight negative session and longest daily losing streak since October. The tech heavy index and S&P 500 are each lower for the week. The Dow is on track to break a two-week losing streak. Netflix, Amazon and Facebook were among the tech names that declined on Wednesday, each falling more than 1%.

The Russell 1000 Value index has gained 16% this year, while the Russell 1000 Growth index has advanced 5%. On the data front, initial jobless claims will be released on Thursday. Economists surveyed by Dow Jones are expecting a print of 527,000. The data comes one day before April’s jobs report is released on Friday. However, he added that concerns still remain in the market. For one, federal stimulus packages have boosted growth, and at some point the economy will have to return to organic growth. The busiest week of earnings is now in the rearview mirror, but a number of companies have yet to provide their quarterly updates.

Source: FXPro

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