US stock futures traded cautiously ahead of the biggest economic report for the month – the April employment report.
Major futures indexed a 0.2% increase when the final trading session of the week began on Wall Street.
GET A FOX BUSINESS, CLICK HERE
The Department of Labor was expected to say the U.S. economy added 978,000 new jobs to agriculture last month. This will be the fourth consecutive month of profits and the highest since August.
This will lead to a much stronger-than-expected increase of 91
APRIL FOR DELIVERY OF GREAT JOBS PROFITS IF EMPLOYERS FIND ENOUGH WORKERS
This week’s better-than-expected report on unemployment claims and rising private sector employment added optimism to job recovery.
And most economists expected strong job growth to continue in the coming months, as vaccinations are widely used and trillions of state aid is distributed in the economy.
Unemployment Claims FALL INTO A NEW LOW PANDEMIC LIKE ECONOMIC RESTORATION
In Asia, the Japanese benchmark Nikkei 225 recovered early losses to reduce less than 0.1%, Hong Kong’s Hang Seng spun much of the day and slipped 0.1%, and China’s Shanghai Composite fell 0.7%. -low.
China reported that its trade with the United States and the rest of the world increased in double digits in April, when consumer demand recovered but growth seemed to slow.
In Europe, the London FTSE added 0.5%, the German DAX won 1% and the French CAC was higher by 0.1%.
The broken day on Wall Street ended on Thursday with significantly higher shares and another record for the industrial average of the Dow Jones.
|I: DJI||DOW JONES AVERAGE||34548.53||+318.19||+ 0.93%|
|SP500||S&P 500||4201,62||+34.03||+ 0.82%|
|I: COMP||NASDAQ COMPOSITE INDEX||13632,841845||+50.42||+ 0.37%|
Banks and technology companies led to a late afternoon turnaround that pushed the S&P 500 up 0.8%.
The S&P 500 closed at 4201.62. The index is on track for its eighth weekly gain in the last 10 weeks. The Dow rose 0.9% to 34,548.19. The Nasdaq Composite rose 0.4% to 13,632.84.
Shares of Moderna lost 1.4% after the company reported its first quarterly profit, aided by the company’s coronavirus vaccine.
CLICK HERE TO READ MORE ABOUT FOX BUSINESS
In energy trading, the US benchmark fell 17 cents to $ 64.54 a barrel in e-commerce on the New York Mercantile Exchange. Raw Brent, the international standard, fell 9 cents to $ 68.00 a barrel.
The Associated Press contributed to this report.