S&P 500 futures rose on Wednesday for the ninth time in past ten sessions helped by a rally in tech stocks, as focus turns to economic data that is likely to show a jump in private jobs in August.
FILE PHOTO: The front facade of the New York Stock Exchange is seen in New York City, New York, U.S., June 26, 2020. REUTERS/Brendan McDermidREUTERS: S&P 500 futures rose on Wednesday for the ninth time in past ten sessions helped by a rally in tech stocks, as focus turns to economic data that is likely to show a jump in private jobs in August.
The ADP National Employment report is expected to show private payrolls increased by 950,000 last month after a disappointing 167,000 rise in July. The report follows encouraging manufacturing sector surveys on Tuesday.As the COVID-19 pandemic rages on, signs that the recovery in the labor market was faltering has been a worry for investors. The more comprehensive monthly jobs report is slated for Friday.
The U.S. Federal Reserve's move to revamp its policy framework to support the economy back to full employment has fueled a Wall Street rally, and sent the S&P 500 and Nasdaq to new closing highs.High-flying shares of technology companies, seen as resilient to the hit from the coronavirus outbreak, including Apple Inc , Amazon.com , Facebook Inc , Nvidia Corp and Slack Technologies Inc rose between 1.3per cent and 2.4per cent in high volumes premarket.At 6:05 a.m.
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Source: The Straits Times - 🏆 8. / 63 Read more »
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