U.S. stock index futures gained on Thursday ahead of labor market data that will give clues on future interest rate hikes, while Tesla extended gains after top boss Elon Musk told staff to ignore the 'stock market craziness'.
hitting a 2022 closing low as rising COVID cases in China and geopolitical tensions added to fears of a likely recession in 2023.
On the data front, the U.S. Labor Department's report is expected to show that 225,000 Americans filed for unemployment claims last week, up from 216,000 in the previous week, indicating some weakness in an otherwise tight labor market. A strong labor market and resilient American economy have fueled worries that interest rates could stay higher for longer even though easing inflationary pressures keep alive hopes of smaller increases.
The Fed's aggressive monetary policy tightening to tame decades-high inflation has hammered equities this year, with the benchmark S&P 500However, investor preference for high-dividend yielding stocks that are closely tied to economic health have staved off a steeper decline in the industrials-heavy Dow JonesMarkets are now pricing in 69% odds of a 25-basis point rate hike by the U.S. central bank in its February meeting and see rates peaking at 4.93% in the first half of next year. .
At 6:18 a.m. ET, Dow e-minis were up 70 points, or 0.21%, S&P 500 e-minis were up 17 points, or 0.45%, and Nasdaq 100 e-minis were up 80.25 points, or 0.74%.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Dow futures rise 110 pts; Tesla, housing data in focus By Investing.com*DOW FUTURES RISE 110 PTS AS STOCKS POINT TO HIGHER OPEN; TESLA, HOUSING DATA IN FOCUS $DIA $SPY $QQQ
Read more »
Krugman compares Tesla stock to bitcoin, takes aim at Elon MuskNobel laureate Paul Krugman compares Tesla to bitcoin — and says he wouldn't trust Elon Musk to feed his cat
Read more »
New Law Bans Elon Musk's Tesla From Advertising as 'Full Self-Driving'The California law, SB No. 1398, forbids car dealers and manufacturers from using language that could lead the public to believe a car is fully autonomous.
Read more »
Elon Musk has lost $132 billion in 2022 after Tesla stock's 68% crashElon Musk has lost $132 billion in 2022 after Tesla's 68% crash - but that still makes him the world's 2nd richest person
Read more »
Elon Musk tells Tesla workers to relax despite ‘stock market craziness’“Please go all out for the next few days and volunteer to help deliver if at all possible. It will make a real difference!” he said in the email.
Read more »
Elon Musk tells Tesla employees don't be 'bothered by stock market craziness'Tesla CEO Elon Musk sent a companywide email on Wednesday urging employees to stay focused and not to pay attention to the slumping stock price.
Read more »