People visit the Charging Bull statue during the Covid-19 pandemic in New York.
Tayfun Coskun | Anadolu Agency | Getty Images
At the start of Wednesday evening’s overnight session, futures contracts related to major U.S. stock indexes rose, suggesting that Wall Street could boost profits that pushed the S & P 500 to record levels this week. doing.
Futures related to a wide range of stock indexes rose about 0.1%, while the Nasdaq-100 contract added a similar 0.1%. Dow futures have risen 20 points.
The extended trading move came to a new closing price after the late-night pop of the S & P 500 pushed the S & P 500 up to 4,079.95. The Dow Jones Industrial Average rose 16 points (0.1%) during the regular session.
Despite the outperform of Big Tech stocks, the tech-intensive Nasdaq Composite fell 0.1%. Amazon, Apple and Alphabet all rose more than 1% and Facebook rose 2.2%.
Both the Dow and S & P 500 notched records will end on Monday.
Investors during Wednesday session Fed’s latest minutes showing what authorities are planning Keep the pace of asset purchases the same while the central bank strives to support stable prices and maximum employment.
For Dennis DeBusschere, Evercore ISI’s equity strategist, the market is not entirely convinced that strong economic growth and inflation will not have an immediate impact on the hands of central banks.
“The market predicts that interest rates will have to be raised before the Fed says,” he said in an email. “The question is whether the Fed will raise rates before inflation exceeds 2% for some time.”
If they stick to their plans, the yield curve will steer as growth prospects improve and unemployment falls, DeBusschere added. “It’s about the result.”
President Joe Biden spoke from Washington on Wednesday about his administration’s $ 2 trillion infrastructure plan, including raising the corporate tax rate to 28%, saying: He is ready to negotiate the proposed tax increase.
The proposed corporate tax hike is considered a major source of tax revenue for the White House’s infrastructure program and is not a beginner for Republicans concerned about tax increases as the U.S. economy emerges from Covid-19. .. Pandemic.
Separately, the Treasury said Biden’s tax bill would generate about $ 2.5 trillion over 15 years to pay for eight years of spending on roads, bridges, transportation, broadband and other projects. It was.
Financial support is seen as a key driver of strong economic data, including last month’s stock record and a better-than-expected March employment report. The S & P 500, the Dow Jones Industrial Average, and the Nasdaq Composite Index have all risen for the fourth consecutive quarter as the economic recovery from Covid-19 accelerates.
On Thursday, investors will scrutinize the latest updates from the Ministry of Labor regarding the number of Americans applying for unemployment benefits for the first time. Economists polled by Dow Jones expect a total of 694,000 first bills during the week ending April 3.
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Stock futures rose 1 inch after S & P 500 hit record highs
Source link Stock futures rose 1 inch after S & P 500 hit record highs