Stock Futures Rise Ahead of Unemployment Claims Data

U.S. equity futures rose slightly on Thursday ahead of new data that will show whether the job market is recovering from an increase in Covid-19 infections over the winter.

S&P 500-linked futures rose 0.3%, indicating that the general market gauge could post lukewarm gains after the New York opening bell, breaking two straight days of muted losses. Tech-intensive Nasdaq-100 contracts rose 0.4%, and those linked to the Dow Jones Industrial Average rose 0.3%.

Continued progress towards passing a $ 1.9 trillion stimulus package in the United States bolsters sentiment as investors expect it to further cushion the economic impact of Covid lockdowns. 19. While some data has shown signs of improvement in the labor market, investors expect high jobless claims figures to support the need for further stimulus.

New data on unemployment claims is due at 8:30 a.m. ET for the week ended February 6. New claims were 779,000 the previous week.

“There is still obviously a significant number of jobs that have been lost, and there is clearly a need for more tax support,” said Shoqat Bunglawala, Head of Multi-Asset Solutions, Global, Goldman Sachs Asset Management. . “This additional tax support element and even more tax relief: this is again an important element in continuing to help consumers.”