US equities rose on Thursday, indicating another record trading session after the opening bell, while investors waited for unemployment benefit data and comments from Federal Reserve Chairman Jerome Powell.
S&P 500 futures rose 0.3%. The broad market index closed on Wednesday at the 18th record of this year. Nasdaq-100 futures advanced 0.9%, indicating gains in technology stocks.
Shares started the second quarter on a strong footing, with the S&P 500 rising 2.7% this month. The largest technology companies advanced as the bond market calmed down, easing concerns about high valuations of growth stocks. Comments from Fed decision makers released on Wednesday highlighted their intention to continue with light monetary policies until the economy recovers more.
“The dynamics remain supportive of equities,” said Adrien Pichoud, portfolio manager and chief economist at SYZ Private Banking. “The Fed and central banks are generally perceived as in no hurry to raise rates.”
The latest data on unemployment claims, which are due to occur at 8:30 AM ET, are likely to contribute to evidence that redundancies are waning as economic recovery picks up. Economists surveyed by The Wall Street Journal expect workers’ layoffs for initial unemployment claims, a proxy for layoffs, to fall to 694,000 last week from 719,000 the previous week.