U.S. futures stocks rose slightly on Thursday as investors waited for details on Biden’s upcoming plans for a new corona mitigation package.
S&P 500-linked securities rose 0.1 percent, potentially expanding ahead on Wednesday, bringing the broader market index to the second-highest ever. Those linked to the Dow Jones industrial average rose 0.3%.
Data on jobless claims on Thursday showed that 965,000 people applied for unemployment insurance in the week ended Jan. 9, a significant increase compared to the previous week and higher than economists expected due to the increase. Rise of COVID-19 patients and new business constraints affect the labor market.
Meanwhile, all eyes were on Thursday’s anticipated speech from elected President Joe Biden, which details the size of the spending package he proposed to support households and businesses.
The additional stimulus would be good for the equity markets and bolster expectations for economic growth, said Luc Filip, head of investment at SYZ Private Banking̵7;s private equity firm.