FOX Business' Cheryl Casone breaks down the latest initial jobless claims numbers.
U.S. equity futures are pointing to a higher open on Friday ahead of the release of the government's report on last month's nonfarm employment numbers.
Continue Reading Below
The major futures indexes are indicating a rise of 1.1 percent, as violent protests around the country ease and more businesses begin to reopen.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
The most important economic report of the month will be released before trading begins on Wall Street.
The economy is expected to shed 8 million jobs in May, second only to April’s unprecedented loss of 20.54 million which wiped out every job created in the last decade. Watch for the unemployment rate to shoot up more than five full percentage-points to 19.8 percent. That would top April's 14.7 percent reading which surpassed the post-World War 2 record of 10.8 percent from November 1982 and was the highest since record-keeping began in 1948.
Thursday's unemployment data gave the S&P 500 its first loss in five days.
US JOB LOSSES IN MAY COULD RAISE 3-MONTH TOTAL TO 30 MILLION
The report showed that the number of U.S. workers filing for unemployment benefits eased for a ninth straight week though the total number of people getting benefits rose slightly. A drop in that number the week before had raised hopes that some companies were rehiring workers as the economy gains momentum after pandemic fighting shutdowns.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 26281.82 | +11.93 | +0.05% |
| SP500 | S&P 500 | 3112.35 | -10.52 | -0.34% |
| I:COMP | NASDAQ COMPOSITE INDEX | 9615.813165 | -67.10 | -0.69% |
The S&P 500 lost 0.3 percent after being on track earlier in the day for its longest winning streak since December. The Dow Jones Industrial Average rose less than 0.1 percent and the Nasdaq composite fell 0.7 percent.
AIRLINE STOCKS SOAR AS AMERICAN, UNITED ADD BACK FLIGHTS
Regional airlines were strong gainers after American Airlines surged 41 percent, the biggest gain in the S&P 500. It announced it plans to fly 55 percent of its normal U.S. schedule next month, up from only 20 percent in April.
In Asia, the Nikkei in Japan gained 0.7 percent, the Hang Seng in Hong Kong surged 1.7 percent and China's Shanghai Composite added 0.4 percent.
In Europe, London's FTSE added 1.3 percent, Germany's DAX jumped 1.9 percent and France's CAC gained 2.3 percent.
In other trading, a barrel of U.S. crude oil for delivery in July rose 61 cents to $38.03 per barrel in electronic trading on the New York Mercantile Exchange.
CLICK HERE TO READ MORE ON FOX BUSINESS
U.S. crude rose 12 cents to settle at $37.41 on Thursday.
Brent crude, the international standard, gained 92 cents to $40.89 per barrel. It rose 20 cents to settle at $39.99 per barrel on Thursday.
The Associated Press contributed to this article.
Business - Latest - Google News
June 05, 2020 at 02:51PM
https://ift.tt/2Btti6u
Stock futures indicate a rebound ahead of the May jobs report - Fox Business
Business - Latest - Google News
https://ift.tt/2Rx7A4Y
Bagikan Berita Ini
0 Response to "Stock futures indicate a rebound ahead of the May jobs report - Fox Business"
Post a Comment