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Home / Business / Shares of the stock index have losses, as raw claims fall below 1 million

Shares of the stock index have losses, as raw claims fall below 1 million



The future of the stock index turned positive on Thursday, as claims for the first time on unemployment benefits fell much faster than expected, but profits remained silent as investors monitored a stalemate between Democrats in Congress and the White House over a coronavirus help package.

What are the main standards they make?

Arrivals on the Dow Jones YM00 industrial average,
-0.13%
were up 21 points, or 0.1%, at 27,887, while the S&P 500 futures ES00,
-0.05%
rose about 3 points, or 0.1

%, to 3,373. Future Nasdaq-100 NQ00,
+ 0.57%
had increased 56 points, or 0.5%, to 11,182.

Dow on Wednesday DJIA,
+ 1.04%
rose 289.93 points, or 1.1%, to finish at 27,976.84, while S&P SPX,
+ 1.40%
advanced 46.66 points, or 1.4%, to close at 3,380.35, less than 0.2% below its record high of 3,386.15 on 19 February. Composition Nasdaq COMP,
+ 2.12%
jumped 229.42 points, or 2.1%, finishing at 11,012.24.

Are you running the market at all?

Initial claims for unemployment benefits, perhaps the most followed series by pandemic government data, showed significant improvement in the most recent week, dropping to 963,000. Economists surveyed by MarketWatch, on average, had forecast that the number of seasonally adjusted initial claims for the week ended August 8 would drop to 1.08 million from 1.19 million last week.

This saw the future of stocks erase small losses to return positive. But questions remain about the fiscal stimulus for an economy still reeling from the effects of the pandemic.

Senior Democrat and White House officials spoke by telephone Wednesday about another round of coronavirus aid, but both sides then blamed each other for an ongoing stalemate that is ongoing as negotiations aim to extend a number of measures. blocked, including additional unemployment benefits, collapsed late last week. President Donald Trump over the weekend signed executive orders to partially extend some of those measures, but they face legal challenges and doubts about their effectiveness due to logistical constraints.

But with the S&P 500 knocking on the door of a high time, investors have seemed to be looking largely beyond the conflict, analysts said.

“Despite the unpleasant prospect of a long delay before the United States receives its next major fiscal stimulus injection, and perhaps not before the November presidential election, there is little panic in the markets, with most investors betting. for some kind of deal sooner rather than later, “Raffi Boyadjian, senior investment analyst at XM, said in a note.

The stocks are backed by economic data that remains relatively useful, despite a consistently high number of new coronavirus cases in the US

“The equity market, in the US and elsewhere, is being comforted by the fact that economic data show resistance to points in virus infections. This has been true for the US economy for a while, and we can see it in Asia as well. , “said Kit Juckes, global macro strategist at Société Générale, in a note.

The global report of confirmed COVID-19 cases rose to 20.6 million on Thursday, with the death toll at 749,656, according to data collected by Johns Hopkins University. At least 12.8 million people have been confirmed to have recovered. The US has 5.19 million cases, and COVID-19-related deaths are 166,027.

And while the number of cases in the US has remained high, investors seem to be focusing instead on slowing down the number of new infections. Over the past week, there has been an average of 53,723 cases per day in the US, down 17% from the average two weeks ago, according to a New York Times follower.

Which companies are in focus?
  • Shares of Lyft Inc.
    LIFT,
    -0.42%
    were expected to be in focus. The travel-sharing company said late Wednesday that motorcyclists and revenue fell by more than half during a pandemic-dominated second quarter, but layoffs helped it be expected to be the main loss-making destination. also:Uber and Lyft say they could shut down in California if forced to classify drivers as employees

  • 3M Co
    MMM,
    + 0.53%
    shares rose in pre-trade after the maker of personal safety, industrial and consumer products reported “broad-based improvement” in sales trends last month.

  • Shares of network equipment manufacturer Cisco Systems Inc.
    CSCO,
    + 1.92%
    were down 6% in pre-trade as it reported a decline in revenue and soft earnings guidance for the current quarter on Wednesday afternoon, then announced that its chief financial officer was leaving.

  • Tapestry Inc.
    TPR,
    + 0.45%
    shares were higher in pre-trade as Kate Spade and Coach’s parent company reported sales figures that beat analysts’ expectations and posted a narrower-than-expected loss.

  • SmileDirectClub Inc.
    SDC,
    + 4.13%
    shares were down 5% ahead of the bell as the company reported second-quarter sales above Wall Street expectations but GAAP profits that fell below Wall Street expectations.

How are other markets being traded?

In Asia overnight, China CSI 300 index 000300,
-0.25%
closed 0.3% lower, while Hong Kong’s Hang Seng HSI Index,
-0.05%,
moved lower and Japan Nikkei 225 NIK,
+ 1.77%
heats up 1.8%.

In Europe, the pan-European Stoxx 600 Europe SXXP Index,
-0.57%
was 0.5% lower and FTSE 100 UKX,
-1.11%
decreased 1.1%.

Yield on the 10-year Treasury note TMUBMUSD10Y,
0.686%
rose slightly to 0.685%. Bond mismatures move in reverse in yields.

GC00 ari,
-0.54%
fell 0.9% to $ 1,932.00 an ounce. Crude oil prices fell 0.3% to $ 42.56 a barrel, a day after hitting the highest closing for a first-month contract since March 5.

The green display continued to slide, with the ICE US Dollar Index DXY,
-0.32%
a dish gauge against half a dozen big rivals, dropping 0.4% to 93.08.

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