Nasdaq futures turn positive after weekly jobless claims data
(Reuters) – U.S. stock index futures tracking the Nasdaq index turned positive on Thursday, after data showed an increase in weekly jobless claims, in a sign that could suggest the Federal Reserve may need to ease its aggressive monetary tightening cycle.
The benchmark 10-year Treasury yield moved lower following the report, supporting rate-sensitive growth stocks including Apple Inc and Amazon.com Inc.
The number of Americans filing new claims for unemployment benefits increased more than expected last week, but the labor market remains tight even as demand for labor is cooling amid higher interest rates.
At 8:33 a.m. ET, Dow e-minis were up 1 points, or 0%, S&P 500 e-minis were up 2.75 points, or 0.07%, and Nasdaq 100 e-minis were up 34.5 points, or 0.3%.
(Reporting by Shreyashi Sanyal in Bengaluru; Editing by Arun Koyyur)
" Conservative News Daily does not always share or support the views and opinions expressed here; they are just those of the writer."
*As an Amazon Associate I earn from qualifying purchases
Now loading...