Monday, December 4, 2023
HomeTrading RoomFutures On Stocks Incline Slightly

Futures On Stocks Incline Slightly

Wednesday saw a little increase in stock futures, leaving Wall Street on course to extend its current three-day winning streak.

The Dow Jones Industrial Average futures rose 22 points, or 0.06%. Both Nasdaq 100 and S&P 500 futures were trading barely over the flat line.

The movements on Wednesday come as traders analyse the dismal payrolls report. ADP reported that in August, private companies gained 177,000 positions. That is much less than a revised July figure of 371,000. It also fell short of a 200,000 Dow Jones estimate.

For the second straight day, investors seem to view weaker-than-anticipated economic data as positive for stocks.

Following the announcement of discouraging consumer confidence data and a larger-than-expected decline in U.S. job vacancies for July, the main U.S. market indices rose on Tuesday. Traders began to believe that the Federal Reserve may soon relax its position on monetary policy as a result of this.

On Wednesday, the prior 2.4% prediction for annual gross domestic product growth was lowered downward to 2.1%.

Source (CNBC)

- Advertisment -

Most Popular

Recent Comments