US futures rose slightly on Thursday as investors waited for details of the future Biden administration’s plans for a new coronavirus aid package.
Securities related to the S&P 500 rose 0.1%, potentially extending Wednesday’s advance, raising the broad market index to the second-highest level ever. Those related to the Dow Jones industrial average added 0.3%.
Unemployment claims data showed on Thursday that 965,000 people applied for unemployment insurance in the week ended January 9, a considerable increase from the previous week and higher than economists had expected as rising Covid-19 cases and business restrictions we have influenced the labor market.
Meanwhile, all viewers are directed to a speech expected on Thursday by President-elect Joe Biden, which is to detail the size of his proposed spending package to support households and businesses through the pandemic.
An additional stimulus would be favorable to the stock markets and would strengthen the expectations of economic growth, said Luc Filip, head of private banking investments at SYZ Private Banking.