Stock Groups

Futures bounce on easing debt-ceiling, inflation worries By Reuters

by Mike Robinson

[ad_1]

© Reuters. An expert trader is seen working in a booth at the New York Stock Exchange (NYSE), New York City, U.S.A, Oct 6, 2021. REUTERS/Brendan McDermid

By Shreyashi Sanyal

(Reuters) – U.S. stock futures rebounded after a temporary truce between Congress and the debt-ceiling standoff. This relieved fears of a default by the government, while worries about higher inflation were eased by a drop in oil prices.

On Wednesday, Mitch McConnell (top U.S. Senate Republican) proposed a plan for supporting an extension to the federal debt ceiling until December. This could potentially prevent a historic default.

Stocks that are high-growth include Apple Inc (NASDAQ) and Amazon.com Inc. Microsoft Corp Premarket trading was led by Alphabet (NASDAQ) Inc and (NASDAQ:) Alphabet. The premarket traded rose between 1% to 1.2% despite a drop in the benchmark Thursday.

European and Asian stocks rose in the morning after lower oil prices provided relief for investors concerned about rising inflation. U.S. Energy stocks include Chevron Corp (NYSE:) Exxon Mobil Corp (NYSE:), and APA Corp were the main culprits in declines that ranged between 0.6% to 2.1%.

Investors looked forward to receiving weekly jobless claims data. It is likely that 348k Americans applied for unemployment benefits, while 362,000 filed in the previous week.

According to Wednesday’s ADP National Employment Report, private payrolls were up 568,000 in the last month. Reuters polled economists to forecast a growth of 428,000 jobs.

These data are in advance of Friday’s more complete non-farm payrolls data. This data is likely to support the Fed slowing down asset purchases.

At 6:29 a.m. ET were up by 176 points or 0.511%. They were also up 27.75 point, or 0.64%. And they were up 129 point, or0.87%.

Disclaimer Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this information. This includes data including charts and buy/sell signal signals. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.



[ad_2]