Friday , April 16 2021

Futures on stocks are rising for the start of the second quarter



Futures with U.S. stocks traded more after a winning first quarter.

The main futures indices are higher, with the Nasdaq leading with a gain of 0.9%.

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For this quarter, the Dow finished 7.8%, while the S&P 500 gained 5.8% and the Nasdaq 2.8%.

The new quarter begins with a series of economic data.

The Labor Department released a number of new unemployment benefit claims for the past week. Expectations are at 680,000, slightly less than the 684,000 last week, the lowest since the start of the coronavirus pandemic.

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The key number to watch will be the ISM Index of Production Purchasing Managers for March. It is expected to increase by half a point to 61.3, the highest since May 2004 and marking the 10th consecutive month of expansion. A number above 50 signals the growth of the manufacturing sector.

Construction consumption is expected to decline by 1% in February after rising 1.7% the previous month.

In Europe, London’s FTSE added 0.7%, Germany’s DAX rose 0.3% and France’s CAC was up 0.3%.

Asian stock markets followed Wall Street more on Thursday after Japan and South Korea reported unexpectedly strong economic data, and President Biden announced a $ 2.3 trillion plan for U.S. infrastructure spending.

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Japan’s Tank Business Conditions Index for large manufacturers climbed to positive territory for the first time since 2019.

The Nikkei 225 in Tokyo advanced 0.7%, Hang Seng in Hong Kong added 1.9% and China’s Shanghai Composite Index rose 0.7%.

Investors are hesitant between optimism that coronavirus vaccines will allow businesses to return to normal and upset about the rise in infections in the United States and some European countries. This has prompted some to re-establish curbs.

Ticker Security Last To change Change%
I: DJI DOW JONES AVERAGE 32981,55 -85.41 -0.26%
SP500 S&P 500 3972,89 +14.34 + 0.36%
I: COMP NASDAQ COMPOSITE INDEX 13246,870661 +201.48 + 1.54%

On the last trading day of the quarter, the S&P 500 benchmark index rose 0.4% to 3,972.89. The Dow Jones industry average lost 0.3% to 32,981.55. The Nasdaq composite rose 1.5%, to 13,246.87.

The ten-year yield of the Treasury was 1.71%.

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In energy markets, the reference U.S. crude rose $ 1.34 to $ 60.50 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell $ 1.39 to $ 59.16 on Wednesday. Brent crude, which is based on prices for international oils, added $ 1.29 to $ 64.03 a barrel in London. He lost 60 cents in the previous session to $ 63.54.

The Associated Press contributed to this article.


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