Futures Market News
Stock index futures rise as job data exceeds estimates
Sep 09, 2010 09:15 AM
Unemployment data delivered a modest boost to investors' economic sentiment, as the U.S. Department of Labor's weekly jobless claims figures dropped slightly. For the week ended September 4, the advance seasonally adjusted claims figure came in at 451,000, down 27,000 from the previous week.
In addition, the Federal Reserve's twice-quarterly Beige Book report found that economic growth continued through the end of the summer, although at a slower rate. The economy has generally been hampered by sclerotic housing and labor markets, and boosted by manufacturing and finance.
"Economic growth at a modest pace was the most common characterization of overall conditions," said the central bank.
Investors may also be reacting positively to President Barack Obama's plans for a combined stimulus and tax-break plan designed to rev up employment and manufacturing activity. Combining tax credits for capital expenditures and research and development with an infrastructure spending bank, the proposed package comes out to about $350 billion.
However, its prospects are doubtful in a pre-election season environment characterized by public wariness surrounding the issue of deficits and a lack of cooperation between the Democratic majority and the Republican minority.
At 9:45 a.m. EST, Dow Jones Industrial Average index futures were up 54 points to 10,380.
Don’t Miss Our News Updates!
Share dt News:
Follow our breaking news stories and get a unique take on current events that may impact the commodity futures markets. Multiple new articles are posted each weekday. Subscribe to our commodity news updates by email, and receive real-time updates with our RSS feed, follow us on Twitter @DanielsTrading, become a fan on Facebook to stay informed.
SPECIAL OFFER: Receive Your FREE Grain Futures eBook
Download “Inside the Grain & Oilseed Markets” today!
Whether you are new to the agricultural commodities industry or a seasoned trader, it is important to have a solid understanding of the markets to assist you and your trading strategies. From its unique specifications to its key fundamentals, learn how this important sector came to be.
Special Offer
Register for Your Free 2-Week Trial of the dt Insider Market Advisory!
With your free trial membership, you'll receive full access to our exclusive trade recommendation service and all of the timely and accurate trade information you need to feel comfortable participating in the markets.
