Stock Futures Edge Down Ahead of Jobless Figures

The latest jobs report from the U.S. Bureau of Labor Statistics is due out tomorrow, and economists are expecting a number of important data points, including the unemployment rate and jobless claims. According to the Wall Street Journal, the Labor Department is expected to release the unemployment rate for the month of April at 8.1%. The unemployment rate declined from 8.3% in March, but it was still higher than the 7.6% rate that economists expected.

The Dow Jones futures lost 0.1% to end at 18,593.00. It was the Dow’s first loss in four days.

The jobless claims report will be released at 8:30am ET and is expected to show a jump of more than 300,000 new claims last week and another jump of 200,000 new claims this week. If the government is correct and the economy is turning around, we could see a big jump in jobs and the stock market could get a boost. If the report is correct, this could be a big week for the markets.. Read more about us unemployment and let us know what you think.US equity markets fell on Thursday ahead of new data that will give an indication of the pace of recovery in the labour market and the health of the services sector. S&P 500 futures were trading 0.3 percent lower, indicating a decline in the broader market index after the opening bell. It rose 0.1 percent on Wednesday. Nasdaq-100 futures also fell 0.3% Thursday, indicating a moderate decline in technology stocks. Major indices have been slipping this month as investors see some signs that the economic recovery is slowing or losing momentum, and supply chain disruptions have pushed up input costs for a number of commodities. Concerns about the high valuations of many stocks after the months-long rally in U.S. markets are also giving some investors pause. The Federal Reserve report released Wednesday pointed to accelerating growth as consumers returned to restaurants and stores, but also said supply chain disruptions and severe labor shortages were driving up prices. Weekly initial job applications, an indicator of the unemployment rate, and Friday’s jobs report will give an indication of the labor market recovery, which Fed officials say remains a concern. The focus remains on inflation and central banks and when they will exit, he said. Caroline Simmons, Chief Investment Officer of UBS Global Wealth Management in the United Kingdom. If the labor market turns out to be stronger than expected, it will start a discussion that the economy is on the right track, that job growth is good, and therefore we will end up with rising wages and eventually national inflation. The final data on initial jobless applications will be released at 8:30 a.m. ET. Economists polled by the Wall Street Journal expect a drop to 400,000 claims from 406,000 the previous week, a new low. Meanwhile, several popular stocks on Internet forums, such as AMC Entertainment Holdings, hit all-time highs this week in a flurry of trading. AMC rose nearly 20 percent in premarket trading Thursday, while BlackBerry BB 31,92 scored above 25%. Naked Brand Group и Sundial Fokker SNDL 13.00 are among the other small stocks for which significant changes have been observed. The price reaction is quite surprising, but when a product goes up that much, it usually goes down again because it is not based on fundamental factors, Simmons said. These trades usually do not end well, they are very volatile and people can lose a lot of money depending on when they get into the action and when it corrects. The joke crypto-currency dogecoin rose more than 3 percent to trade at 43 cents, up from 41 cents at 5 p.m. and Wednesday, according to CoinDesk. The purchasing managers’ survey, released at 9:45 a.m., is expected to shed light on the recovery in the U.S. services sector in May, which was hit hardest by the lockout. Another measure of service sector activity will also be released at 10 a.m. We are seeing peaks and plateaus in the data as the pace of change flattens from the pandemic lows, said Grace Peters, an investment strategist at J.P. Morgan Private Bank. This is causing some discontent in the markets: We have seen a plateau in equity markets over the past month, largely due to the spikes. In bond markets, the yield on the benchmark 10-year Treasury note rose to 1.599% from 1.591% on Wednesday. Returns increase when prices fall. Abroad, the pan-continental Stoxx Europe 600 Index fell 0.4% from its record level. In Asia, the major benchmark indices ended the session with mixed feelings. The Shanghai Composite Index fell nearly 0.4 percent, while Japan’s Nikkei 225 Index rose 0.4 percent. Hong Kong’s Hang Seng Index fell 1.1 percent.

Traders work on the New York Stock Exchange floor on Wednesday.

Photo: Courtney Crowe/Associated Press Email Anna Hirtenstein at [email protected]. Copyright ©2020 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8It certainly is hard to watch the markets on a daily basis, and it’s even harder when you start to get a feel for what the market is going to do. The last couple of weeks have been no different, with the S&P 500 and Dow Jones dropping about 3% each, while the NASDAQ and the  FTSE 100 rose about 1%.  This week, the markets are looking to get a bit of a bounce, as traders will no doubt be watching the jobless figures for the month of August, which is expected to be one of the lowest in years, which will likely drag down the market.. Read more about us unemployment rate 2021 and let us know what you think.

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