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Stock futures held steady after the S&P 500 closed below record levels



Tourists pose with bulls on Wall Street in Financial District, Aug. 21, 2018 in New York City.

Drew Angerer | Getty Images News | beautiful images

Futures tied to major US stock indices held steady on Wednesday night’s long trading just hours after the S&P 500 flirting, but only fell short, closing the day. new green.

Dow Jones Industrial Average futures are flat, implying an opening move around the flat line as normal trading continues. S&P 500 futures also publish muted trading while Nasdaq-1

00 futures show slightly lower opening trading.

Wednesday night’s after-work performance followed a regular session rally, with key indexes rising as Big Tech rallied, strength from healthcare and discretionary equity returns .

The S&P 500 rose 1.4 percent in regular trading on Wednesday, the strongest gain in a day since July 6. The broad market index ended the day at 3,380.35. During the final hour of trading, the broader market index quickly traded above a record high to close at 3,386.15.

The index has risen every day this month except for a 0.8% decline on Tuesday; it’s up 3.3% since the end of July.

Consumer tech names Facebook, Apple and Amazon rose 1.4%, 3.3%, and 2.6% in regular trading Wednesday while Netflix and Microsoft rose 1.8%, respectively. and 2.8%.

The stocks that benefited the most from the reopening started Wednesday’s session quite aggressively, but ended up ending the day with tech names lagging behind. . Travel operator Carnival reduced by 4%. JPMorgan Chase, Bank of America and Citigroup were all lower.

Investors continue to watch Washington, where the nation’s top lawmakers continue to haggle over a new coronavirus bailout for American households and businesses.

While Senate Majority Leader Mitch McConnell and House Speaker Nancy Pelosi both said this week that the two sides are far from reaching an agreement, many investors believe a deal is inevitable.

Tom Essaye, editor of Sevens Report, wrote: “The market still wants and is very hopeful, an actual stimulus bill will be signed.

“Forward, the stimulus bill negotiations will continue, but [President Trump’s] Executive orders (combined with recent solid data) can reduce the urge to get something done, so in reality the market will look for a deal in the next few weeks, ” he added.

The Labor Department’s latest weekly unemployment report will be released on Thursday morning.

The weekly figures give Wall Street insight into how many Americans continue to receive unemployment benefits, known as continuing claims.

Another 1.1 million workers are expected to file a state unemployment claim for the first time in the week ending August 8. That would mark a slowdown from last week, although though still higher than any before the pre-Covid period.

Last week, the government said initial unemployment claims rose by 1.18 million in the week ending August 1. That marks the 20th consecutive week in which initial claims remained above 1 million.


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