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U.S. Equity Futures were trading lower on the last trading day of the week, a day after major stock indexes rose as lawmakers reached agreement on an extension of the short-term debt limit.
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$ 34754.94
+337.95 (+ 0.98%)
$ 14654.015642
+152.10 (+1.05%)
On Thursday, Wall Street’s benchmark S&P 500 rose 0.8% to 4,399.76 for its third consecutive daily gain after US lawmakers agreed to extend Washington’s borrowing capacity until December . The lack of an agreement could have led to a default according to experts that would delay the recovery after the coronavirus pandemic.
Despite this, “concerns about his government’s US funding are far from over,” Mizuho Bank’s Venkateswaran Lavanya said in a report.
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The Dow Jones Industrial Average gained 1% to 34,754.94. The Nasdaq added 152.10 points to 14,654.02.
Earlier, the S&P 500 hovered between gains and losses of more than 1% for four days due to anxiety over the debt fight in Washington.
U.S. equity futures traded mixed on the last trading day of the week, a day after major stock market indices rose as lawmakers reached agreement on an extension of the short-term debt limit . (Colin Ziemer / New York Stock Exchange via AP)
On Thursday, the Labor Department announced that the number of people claiming unemployment fell last week.
Earlier, Fed officials responded to a spike in inflation by saying they wanted to make sure a recovery was established before withdrawing stimulus. Boosting employment could increase the pressure for prices to rise faster, which investors say could prompt the Fed and other central banks to cut stimulus measures that have boosted stock prices.
Meanwhile, Asian stocks were mixed as investors waited for U.S. employment data on Friday that could influence a Federal Reserve decision on when to reverse stimulus measures after Washington lawmakers cut back. avoided a possible default on the public debt.
The market references in Shanghai, Tokyo and Sydney have progressed. Hong Kong and Seoul retreated.
Investors were waiting to see if hires in the U.S. in September were strong enough for Fed officials to discuss when to pull out bond purchases and other stimulus that are pushing stock prices up, but say they want a healthy labor market.
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Friday’s Labor Department data “will decide, in the minds of the market, whether the start of the Fed’s cut is a deal struck by December,” Oanda’s Jeffrey Halley said in a report.
The Shanghai Composite Index rose 0.3% to 3,578.35 as Chinese markets reopened after a five-day vacation. The Nikkei 225 in Tokyo jumped 1.6% to 28,134.86 while the Hang Seng in Hong Kong lost 0.1% to 24,667.13.
The Kospi in Seoul lost 0.2% to 2,955.55 while the ASX-S & P 200 in Sydney rose 0.7% to 7,307.80. Indian Sensex opened 0.8% to 60,157.35. New Zealand retreated as Southeast Asian markets advanced.
In energy markets, benchmark US crude rose $ 1.09 to $ 79.39 per barrel in electronic trading on the New York Mercantile Exchange. The contract gained 87 cents Thursday to $ 78.30. Brent crude, the basis of international oil prices, rose 99 cents to $ 82.94 a barrel in London. It added 87 cents the previous session to $ 81.95.
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The dollar rose to 111.89 yen from 111.63 yen on Thursday. The euro rose to $ 1.1554 from $ 1.1550.
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