Futures of U.S. stocks rose Thursday, signaling another record trading session after the opening bell, as investors waited for data on unemployment benefits and comments from Federal Reserve Chairman Jerome Powell.
Futures linked to the S&P 500 rose 0.3%. The broad market index closed on Wednesday in its 18th record this year. Nasdaq-100 futures advanced 0.9%, pointing to gains in technology stocks.
Shares began the second quarter at a strong level, with the S&P 500 rising 2.7% this month. Larger technology companies have advanced as the bond market calmed down and eased concerns over high valuations of growing stocks. Comments from Fed officials, released on Wednesday, made clear their intention to continue with easy monetary policies until the economy has recovered further.
“The dynamic remains supportive of equities,” said Adrien Pichoud, portfolio manager and chief economist at SYZ Private Banking. “It is perceived that the Fed and central banks in general are in no hurry to raise rates.”
It is likely that the latest data on unemployment claims, scheduled for 8:30 a.m. ET, will add to evidence that layoffs are shrinking as economic recovery picks up strength. Economists surveyed by the Wall Street Journal predict that worker applications for initial unemployment claims, a representative of the layoff, have dropped to 694,000 last week, up from 719,000 the previous week.