Futures for US stock indices fluctuate between growth and decline in trading on Thursday after the publication of data from the Ministry of Labor, which showed the maximum increase since June this year in the number of applications for unemployment benefits in the US.
The number of Americans who applied for unemployment benefits for the first time increased by 29 thousand last week and amounted to 219 thousand people.
According to revised data, a week earlier the number of applications was 190 thousand, and not 193 thousand, as previously reported. Analysts polled by Bloomberg expected the figure to rise to 204,000, on average.
Traders take a cautious stance ahead of the publication of September data on the number of jobs and unemployment in the US. The Department of Labor will release them on Friday at 3:30 pm ET.
The consensus forecast of experts polled by Market Watch suggests that the number of jobs in the US last month increased by 275 thousand (315 thousand in August), while maintaining unemployment at 3.7%.
The situation in the US labor market is a key factor influencing the policy of the Federal Reserve System (Fed), and the upcoming publication of unemployment data makes traders take a wait-and-see attitude, experts say.
Another report from the Department of Labor, published earlier this week, showed a sharp decline in the number of open vacancies in the States in August. The indicator fell by 10% – the fastest pace since the start of the pandemic in 2020, to 10.1 million vacancies.
These data were perceived by investors as a signal of “cooling” of the US labor market, which may hold back further tightening of the Fed’s policy.
However, industry organization ADP said on Wednesday that the number of jobs in the US private sector in September rose by 208 thousand compared to August – more than expected. Analysts polled by Dow Jones had forecast a 200,000 increase after rising 185,000 in August.
Shares of Peloton Interactive Inc. adding 0.2% in price during preliminary trading on Thursday. The US fitness equipment manufacturer plans a fourth round of layoffs that will affect 500 jobs.
Conagra Brands rose 0.4%. The prepared food manufacturer ended the first quarter of fiscal 2023 with a loss, but the company’s adjusted figure and revenue exceeded experts’ expectations.
Share price of International Business Machines fell 0.4%. The company has announced plans to invest $20 billion in business development in the Hudson River Valley over the next decade.
The value of the December E-mini futures on the S&P 500 fell by 0.01% to 3793.75 points by 15:55 Moscow time on Thursday. The quotation of the December E-mini futures on the Dow Jones index decreased by this time by 0.06%, to 30293 points. Futures on the Nasdaq 100 for December rose 0.19% to 11646.25 points.
