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Equity futures gained Thursday, a day after the Dow Jones Industrial Average hit a new record, with the U.S. government officially certifying that President-elect Joe Biden would become the country’s 46th commander-in-chief.
Dow Jones Industrial Average futures rose 112 points, a gain of 0.4%, while the high-tech Nasdaq rose 0.8%, following Wednesday’s sell-off. The larger S&P 500 also climbed, rising 0.5%.
| Teleprinter | security | Latest | Change | Change% |
|---|---|---|---|---|
| I: DJI | MEDIUM DOW JONES | 30829.4 | +437.80 | + 1.44% |
| I: COMP | NASDAQ COMPOSITE INDEX | 12740.793892 | -78.17 | -0.61% |
| SP500 | S&P 500 | 3748.14 | +21.28 | + 0.57% |
Unemployed claims fell unexpectedly, with 787,000 new filers, against an estimated 800,000. Ongoing claims were $ 5.07 million, below estimates of $ 5.2 million. ADP on Wednesday said the United States shed 123,000 jobs in December, compared to expectations of an 88,000 gain, as the pandemic continued to ravage the economy.
European indices also rose, with the Euro STOXX rising 0.3%, while the German DAX and the French CAC 40 gained 0.4% and 0.6% respectively.
DOW REACHES NEW RECORD AS BANKS RALLY, OFFSETTING NASDAQ’S DECLINE
SOCIAL MEDIA IN GAME
Social media stocks Twitter and Facebook could receive inordinate attention Thursday after both platforms, as well as Facebook-owned Instagram, suspended President Trump’s account on Wednesday.
| Teleprinter | security | Latest | Change | Change% |
|---|---|---|---|---|
| TWTR | TWITTER INC. | 53.26 | -0.62 | -1.15% |
| FB | FACEBOOK INC. | 263.31 | -7.66 | -2.83% |
Twitter’s move came after the social media giant removed a video the president tweeted, in which he told protesters who had stormed the Capitol to “go home,” while claiming the the 2020 elections had been “stolen”.
CUTTING-EDGE ECONOMIC REPORTS
A number of economic reports will be released on Thursday, including a closer look at the trade and the weekly natural gas inventory report.
November’s trade balance stood at -68.1 billion dollars, below the estimate of 65.2 billion dollars according to analysts polled by Refinitiv.
Other key economic reports to be released on Thursday include the ISM non-manufacturing index and the weekly natural gas inventory report.
BITCOIN CAN REACH SIX DIGITS, SAYS JPMORGAN – BUT THERE IS A CATCH
In other asset classes, bitcoin broke above the $ 37,000 level in morning trading.
Oil and gold also rose, with West Texas Intermediate crude oil rising above the $ 50 per barrel level, while gold hit $ 1,917.10 per ounce.
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Brooke Singman of Fox News contributed to this story.
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