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Equity futures flat in overnight trading prior to employment data

A trader working on the New York Stock Exchange (NYSE) on May 19, 2021.

NYSE

Equity futures were stable in Wednesday night trading as investors waited for new labor market data to measure the pace of economic recovery.

The Dow Jones Industrial Average futures rose by just 20 points. Both the S & P 500 futures and the Nasdaq 100 futures were almost unchanged.

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The futures move followed a relatively quiet session on Wall Street. The S & P 500 saw a 0.2% rise in light trade, supported by rising equities associated with the resumption of the economy, including airlines and cruise line operators. The Dow Jones Industrial Average ended Wednesday with little change, but the tech-heavy Nasdaq Composite rose 0.6%.

Transactions are expected to be muted prior to the Memorial Day weekend.

“The stock market is quiet as investors continue to anticipate the Fed’s next move,” said Mark Hackett, head of investment research at Nationwide. “Low volatility and low trading volume occur frequently during the week leading to the holidays.”

Investors are waiting for the latest data on US weekly unemployment benefits to be released Thursday morning. Economists surveyed by Dow Jones estimate that a total of 425,000 Americans have applied for unemployment benefits during the week ending May 22nd.

Equity futures flat in overnight trading prior to employment data

Source link Equity futures flat in overnight trading prior to employment data

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