|Day's Range||25,515.00 - 25,878.00|
The U.S. economy added millions more payrolls in June from May, as regions across the country eased social distancing restrictions and allowed more businesses to reopen. The net additions in payrolls topped consensus expectations.
U.S. stock-index futures added to gains on Thursday after a closely followed report on the health of the labor market showed that the U.S. added 4.8 million jobs in June and the unemployment fell to 11.1% from 13.3% in May, suggesting that the employment picture is improving after a stunning collapse due to the COVID-19 pandemic. Economists polled by MarketWatch had predicted 3.7 million jobs were created or restored in June, with some estimates ranging as high as 8 million. Futures for the Dow Jones Industrial Average rose 409 points, or 1.6%, at 25,984 those for the S&P 500 index added 39.15 points, or 1.3%, while Nasdaq-100 futures were 106.25 points, or 1%, higher at 10,375. 11.1% unemployment 4.8 million
U.S. stock futures on Thursday point to strong gains as investors eagerly await important reports on employment that could shed more light on the state of the domestic economy in the throes of a global viral outbreak.
Top news and what to watch in the markets on Wednesday, July 1, 2020.
Stocks rallied into the close Tuesday to cap off the best second quarter for blue-chip equities since the S&P 500 was created in 1957.
The S&P 500 and Dow were higher Monday morning, even as a rising number of states across the country reimposed social distancing standards to try and curb increases in coronavirus case counts.
Top news and what to watch in the markets on Monday, June 29, 2020.
Stocks closed out Friday’s session sharply lower after Texas and Florida partly reversed their reopenings as a result of soaring COVID-19 infections.
Stocks wavered between gains and losses Thursday after Texas said it was pausing its reopening process due to a renewed surge in Covid-19 infections in the state. Investors also monitored incoming economic data, with a new report showing stubbornly high levels of new unemployment claims.
Stocks sank Wednesday, with the S&P 500 and Dow selling off by more than 3% at session lows as rising numbers of Covid-19 infections in some regions spooked investors.
Stocks traded choppily Thursday after opening lower, as market participants nervously eyed rising coronavirus cases in major regions throughout the country. Meanwhile, a report showed new weekly unemployment insurance claims were worse than expected last week, with the level down just slightly from the prior week.
Stocks cut earlier gains, and the S&P 500 and Dow turned negative, after new data showed a spike in Covid-19 hospitalizations in Texas.
Stocks opened sharply higher Tuesday morning followed a report that the Trump administration was poised to unveil a $1 trillion proposal for U.S. infrastructure work, in a move to help boost the domestic economy. A record jump in retail sales in May also helped fuel the early rally.
U.S. stock-index futures Tuesday morning saw early gains deepen following a report of a potential treatment for COVID-19 that has proved successful in early trials. A report from the BBC and other outlets say that Dexamethasone, a cheap and widely available steroid, is being seen as having had success in low doses to improve outcomes for hospitalized patients who are suffering serious symptoms from the illness derived from the novel strain of coronavirus. The BBC report was from a study led by a team from Oxford University, which included 2,000 hospital patients who were given the steroid and were compared with more than 4,000 who didn't get the drug. The report indicated that for "patients on ventilators it cut death risk from 40% to 28%," and for "patients needing oxygen it cut death risk from 25% to 20%." Futures for the Dow Jones Industrial Average was up 863 points, or 3.4%, at 26,534, those for the S&P 500 index gained 2.7% at 3,143, while the Nasdaq-100 futures gained 2.1% at 9,993.25. Markets had already been buoyant on the back of a report of further stimulus measures from the Trump administration to help the domestic economy recover and an upbeat report on May retail sales.
Stocks erased earlier losses and rose Monday, after the Federal Reserve said it would begin purchasing individual corporate bonds as part of its emergency lending program to inject liquidity into the virus-stricken economy.
Stocks ended a choppy session in positive territory, as renewed concerns over rising coronavirus cases dampened previous optimism of a smooth recovery.
Stocks slid following the Federal Reserve’s monetary policy decision, in which policymakers highlighted the ongoing economic concerns spurred by the coronavirus pandemic and measures taken to contain it.