Stocks could return upwards in early Thursday trading after closing almost below the previous session.Major index futures are currently showing reasonably high open market, The Dow futures are up 83 points.
Trade activity is likely to be somewhat curtailed before the monthly employment report, which the Ministry of Labor is closely watching, is released on Friday, but continued optimism about the economic outlook will lead to an early recovery on Wall Street. There is a possibility of connecting.
Economists now expect reports to show a surge in 870,000 jobs in July after a surge in 850,000 jobs in June. The unemployment rate is expected to drop from 5.9% to 5.7%.
With monthly employment reports imminent, the Ministry of Labor released a report this morning showing a slight reduction in initial US unemployment allowance claims during the week ending July 31st.
Initial unemployment claims fell to 385,000, down 14,000 from last week’s revised level of 399,000, according to the report.
Economists expected unemployed claims to drop from the 400,000 originally reported last week to 384,000.
According to another report from the Commerce Department, the US trade deficit expanded more than expected in June, hitting a record high.
The Commerce Department said the trade deficit expanded from the revised $ 71 billion in May to $ 75.7 billion in June.
Economists expected the trade deficit to grow from $ 71.2 billion, which was first reported last month, to $ 74.1 billion.
Imports increased 2.1% to $ 283.4 billion and exports increased 0.6% to $ 207.7 billion, creating a wider trade deficit than expected.
Stock prices fell most of the time during Wednesday’s trading, but technology-intensive Nasdaq went against the downtrend. The Dow slipped firmly into the negative territory and the S & P 500 dropped Tuesday’s record high.
The Dow fell 323.73 points (0.9%) to 34,792.67 and the S & P 500 fell 20.49 points (0.5%) to 4,402.66. Meanwhile, Nasdaq spent most of the day near the unchanged line before closing at 14,780.53 with 19.24 points (0.1%).
In overseas trading, the stock market in the Asia-Pacific region fluctuated in the trading on Thursday. Japan’s Nikkei 225 Index rose 0.5%, while China’s Shanghai Composite Index fell 0.3%.
On this day, the major European markets were also mixed. The UK’s FTSE 100 index fell 0.1%, while Germany’s DAX index rose 0.2% and France’s CAC 40 index rose 0.4%.
In commodity trading, crude oil futures have risen from $ 0.57 to $ 68.72 a barrel after plunging from $ 2.41 to $ 68.15 a barrel on Wednesday. Meanwhile, gold futures have fallen from $ 0.40 to $ 1,814.10 per ounce after rising from $ 0.40 to $ 1,814.50 per ounce in the previous session.
On the currency side, the US dollar is trading at 109.59 yen, compared to 109.48 yen acquired at the end of the New York transaction on Wednesday. Against the euro, the dollar is valued at $ 1.1835 compared to yesterday’s $ 1.1837.
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U.S. stocks could regain ground with early trading
Source link U.S. stocks could regain ground with early trading