Labor Department figures showed Thursday that the seasonally adjusted number of initial jobless claims dropped unexpectedly by 11,000 to 445,000 in the week ending October 2. That piece of good economic news was enough to deliver a solid boost to U.S. stock index futures, as Dow futures rose 46 points to 10,952 at 9:14 a.m. EST.
S&P 500 index futures saw a gain of 5.8 points to 1,161.50, while Nasdaq 100 index futures rose 12 points to 2,016.25.
Foreign equities rose as well, with Bovespa index futures up 225 points to 70,830 and FTSE 100 index futures climbing 20.5 points to 5,676.
Germany's DAX index futures gained 42 points to 6,313.50.
In fact, the only major index to see declines was Japan's: Nikkei 225 index futures slipped 10 points to 9,680 at 9:07 a.m. EST.
"Companies are not laying off workers as much as they have been," Burt White, chief investment officer at LPL Financial Corp. in Boston, told Bloomberg News. "Jobless claims have been more steady now. That's a positive."
The good news, though, doesn't seem like it will be enough to sustain equity indexes throughout the day.
This material is conveyed as a solicitation for entering into a derivatives transaction.
This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.
Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.
Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.
You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.