US futures rose on Thursday ahead of data that will provide new indications of a recovery in the labor market.
The S&P 500 futures ticked 0.2% higher, a day after the broad market margin was pulled below technology stocks. Nasdaq-100 futures rose 0.3%, indicating that technology stocks could recover some ground. The benchmark retreated almost 1.7% on Wednesday. Dow Jones industrial average contracts rose 0.2%.
Investor optimism has been dampened in recent days by mixed signals from different parts of the economy. Government spending on Covid-19 aid and the launch of vaccines is helping to boost growth. This has led to an increase in consumer demand for products.
But there are signs that the global recovery could be slowed by an expansion of Covid-19 blockages and growing supply chain constraints for crucial products such as vaccines and electronic chips. The new stimulus controls have also raised concerns about a sharp rise in inflation as the economy recovers, which has curbed the appetite for both government bonds and technology stocks.
“From here, you could have crowded markets. We will look for a new narrative “, Daniel Morris, chief market strategist at BNP Paribas Asset Management. “The growth could recover, the value could wait and then nothing happens on the surface. I have modest expectations for the market until we realize what the next catalyst is. ”