Breaking News
Investing Pro 0
NEW! Get Actionable Insights with InvestingPro+ Try 7 Days Free

Dow Jones Futures Up 96 Pts; Nonfarm Payrolls Due

Stock Markets Jan 08, 2021 07:13AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
 
EUR/USD
+1.71%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
XAU/USD
+1.67%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
US500
+2.96%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
DJI
+2.74%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
BA
+5.49%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
SPY
+2.96%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

By Peter Nurse   

Investing.com - U.S. stocks are seen opening higher Friday, continuing to post record highs with investors looking through the near-term political turmoil and expecting increased fiscal spending to result in a strong economic recovery.

At 7:15 AM ET (1215 GMT), the Dow Futures contract was up 96 points, or 0.3%, S&P 500 Futures traded 14 points, or 0.4%, higher, and Nasdaq 100 Futures climbed 66 points, or 0.5%. 

The Dow Jones Industrial Average ended Thursday 0.7% higher, closing above 31,000 for the first time. The Nasdaq Composite ended above 13,000 for the first time after gaining 2.6%, while the S&P 500 closed up 1.5%, also a new record high. 

President Donald Trump attempted late Thursday to cool the political climate in the wake of Wednesday’s violent scenes on Capitol Hill, denouncing those who broke the law and finally conceding that President-elect Joe Biden will take charge on January 20th. 

This statement came after a number of officials in Trump’s administration, including Transport Secretary Elaine Chao and Education Secretary Betsy DeVos, resigned amid widespread calls for him to be removed from office, even with less than two weeks of his term to go.

Still, investors remain buoyant based on the expectation of more fiscal spending by the incoming Biden administration, with control of both the Senate and the House of Representatives, while the Federal Reserve continues to keep borrowing costs at very low levels.

The U.S. reported a new record daily level of deaths associated with the Covid-19 virus on Thursday, with 4,110 people passing away while 268,000 new cases were registered. Over the last week alone, there have been 1.6 million new cases and over 19,000 deaths.

This rise in cases, and the associated mobility restrictions, could be reflected in the December nonfarm payrolls data, due at 8:30 AM ET (1330 GMT). The report is expected to show a gain of 71,000, which would be far lower than the 245,000 jobs added in November. 

In corporate news, Boeing (NYSE:BA) has reached a $2.5 billion settlement with the U.S. Department of Justice over the plane crashes that led to the grounding of its 737 MAX jetliner, while Apple (NASDAQ:AAPL) has been linked with South Korean carmaker Hyundai over the potential development of a vehicle.

Oil prices edged higher Friday, continuing the bullish tone created by Saudi Arabia’s surprise announcement earlier this week that it would voluntarily cut output by one million barrels per day for the next two months.

U.S. crude futures traded 1.5% higher at $51.59 a barrel, while the international benchmark Brent contract rose 1.8% to $55.33. Both benchmarks are on track to post gains of around 5% this week, and are trading around the highest levels seen since February last year.

Elsewhere, gold futures fell 1.1% to $1,893.10/oz, while EUR/USD traded 0.2% lower at 1.2250.

 

Dow Jones Futures Up 96 Pts; Nonfarm Payrolls Due
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (2)
Djodmy Champagne
Djodmy Champagne Jan 08, 2021 8:47AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
biden is the best President of america
Ray Huggard
Ray Huggard Jan 08, 2021 8:08AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Enjoy it while it lasts. A Biden administration will soon tank the economy, recession and possibly secind great depression coming.
Andhika Raihan
Andhika Raihan Jan 08, 2021 8:08AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
yoo
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email