Equity futures flat as investors wait for more employment data

A trader on the floor of the New York Stock Exchange.

Source: NYSE

Futures contracts tied to major US stock indexes were largely unchanged at the start of the overnight session on Wednesday night, as Wall Street appeared to improve in mixed weeks.

Dow futures rose 12 points, while S & P 500 and Nasdaq 100 futures each rose less than 0.1%.

The movement in extended sessions came after most of the lower regular sessions.

The Dow Jones Industrial Average fell 323.73 points (0.9%), closing near the session’s low of 34,792.67. The S & P 500 fell about 0.5% to close at 4,402.66 and the Nasdaq Composite rose 0.1% to 14,780.53.

On Thursday, investors will receive yet another update on US employment status with the latest weekly update of the Ministry of Labor for the first unemployment insurance claim. While recent earnings and economic data are generally strong, some economists are concerned that economic growth and employment growth will gradually decline from here.

“Many factors are likely to be causing labor shortages. Concerns about virus capture, childcare responsibilities, skill mismatches, and generous unemployment benefits,” PNC senior economist Abbey Omodumbi said in an email. Said. “Intensifying competition among workers, especially in the leisure and hospitality sectors, will help accelerate wage increases and boost household income and consumer spending,” he said in the second half of this year.

The results of the ADP Private Salary Survey released on Wednesday Employment of 330,000 people in July, It is well below the consensus estimate of 653,000. The official work report of the Ministry of Labor, which usually has a greater impact on investors, will be released on Friday.

The Treasury yield for 10 years was trading flat at close to 1.18% on Wednesday evening, after temporarily falling below 1.13% early in the session.

Share Roku When Uber Every time the quarterly results were announced, after-hours trading in the market decreased. Etsy Double-digit plunge in after-hours trading after the company provided guidance this quarter showing a pandemic-fueled commerce boom It may be nearing the end.

Robin Hood shares during regular trading on Wednesday 50% surge, Has continued its volatile jump after a soft initial public offering last week. Semiconductor stocks were another bright spot. Nvidia When Advanced Micro Devices rise.

Equity futures flat as investors wait for more employment data

Source link Equity futures flat as investors wait for more employment data

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