Stock futures are on the rise as investors eagerly anticipate more corporate earnings and crucial labor data. The Dow Jones Industrial Average futures increased by 0.4%, S&P 500 futures climbed 0.6%, and Nasdaq 100 futures rose 0.8% on Thursday.
In after-hours trading, chipmaker Qualcomm saw its stock surge over 5% on strong earnings, while DoorDash plummeted 11% and Carvana soared an impressive 38%. Wednesday’s trading session on Wall Street was marked by volatility following the Federal Reserve’s decision to keep interest rates unchanged.
Federal Reserve Chair Jerome Powell soothed financial markets by indicating that an interest rate hike is not imminent, with traders now speculating that a rate cut may not occur until September based on futures market pricing.
Investors are eagerly awaiting economic data on weekly jobless claims, worker productivity, trade deficit, and factory orders set to be released on Thursday. Additionally, quarterly earnings reports from tech giant Apple, biotech company Amgen, cryptocurrency exchange Coinbase, and sports betting platform DraftKings will be disclosed after the market closes.
Overall, the market is bracing for a busy day filled with important economic indicators and earnings reports that will likely impact trading activity. Stay tuned for updates on how these factors will shape the market moving forward.
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