Stock futures are smaller than economic data

US futures are trading less ahead of Thursday’s trading session.

The latest move in the markets comes after a day of recovery in which Wall Street had a large lead led by technology companies and banks.

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On Wednesday, the S&P 500 rose 0.9% to a two-day slide to close at 4,173.42. The Dow Jones industrial average rose 0.9% to 34,137.31. Both the S&P 500 and the Dow hit all-time highs on Friday. Nasdaq, strong in technology, added 1.2% to 13,950.22.

Ticker Security The last one Change Change%
I: DJI MEDIA DOW JONES 34137.31 +316.01 + 0.93%
SP500 S&P 500 4173.42 +38.48 + 0.93%
I: COMP NASDAQ COMPOSITE INDEX 13950.218259 +163.95 + 1.19%

In Thursday’s session, traders will examine the latest number of new unemployment claims for last week. Expectations are 617,000, up from a low pandemic-surprise level of 576,000 the previous week.

Another key report to watch will be existing home sales for March. The National Association of Realtors is expected to state that sales of previously owned homes fell by half a hundred a month in March at a seasonally adjusted annual rate of 6.19 million units. The number of 6.86 million homes in October was the highest since November 2005.

Bidding wars are heating up on the red housing market

The earnings parade takes place on Thursday, with two Dow members posting quarterly results – the giant Intel chip after the bell and the Dow chemical maker before trading begins. Numbers from AT&T, Valero Energy and HCA Healthcare will also appear in the morning.

Investors evaluate the company’s earnings reports, while keeping an eye on declining bond yields. The 10-year Treasury yield fell to 1.54% from 1.56%.

In Europe, the London FTSE added 0.2%, the German DAX gained 0.5%, and the French CAC rose 0.7%.

In Asia, the Japanese Nikkei 225 index added 2.4%, Hong Kong’s Hang Seng rose 0.5%, and China’s Shanghai Composite Index fell 0.2%.

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In other transactions, the US benchmark crude threw 37 cents at $ 60.97 a barrel in electronic trading on the New York Mercantile Exchange. It lost $ 1.32 to $ 61.35 a barrel on Wednesday.

Brent crude, the international standard, fell 41 cents to $ 64.91 a barrel.

The Associated Press contributed to this report.

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