Note

Stock futures rise following Pence-Harris debate

Verified Media
· Views 206

Stock futures rose Thursday morning after the debate between Vice President Mike Pence and Sen. Kamala Harris took place Wednesday night without a hitch and increased optimism surrounding additional fiscal stimulus.

Dow futures rose 115 points, a gain of 0.4%, while contracts for the NASDAQ Composite and S&P 500 both added to Wednesday's gains, adding 0.6% and 0.4%, respectively.

On Wednesday, the Dow Jones Industrial Average reclaimed the 28,000 level, adding on 530 points as both President Trump and Speaker of the House Nancy Pelosi signaled support for smaller, more targeted fiscal stimulus, a contentious point between Republicans and Democrats.

DOW JUMPS 530 POINTS AS AIRLINE STIMULUS HOPES LIFT TRANSPORTATION STOCKS TO RECORD

European markets rose again Thursday, with the Stoxx Europe gaining 0.5%. The German DAX, French CAC 40 and U.K.'s FTSE 100 all gained more than 0.1%.

INITIAL CLAIMS IN SPOTLIGHT

Investors will be looking at some economic readings Thursday, including initial jobless claims. For the week ending Oct. 3, investors are looking for a reading of 830,000 initial claims, down slightly from the prior week of 837,000.

Though 11 million people have been added to U.S. payrolls since the U.S. shutdown in March as a result of the coronavirus pandemic, there are still more than 20 million Americans unemployed.

EARNINGS COME TO FOCUS

Earnings season is starting to kick into gear, as Domino's Pizza Inc. and Carnival Corp. report results before the open, giving investors additional insight into the health of the consumer.

Domino's is expected to earn $2.78 per share on revenue of $952.97 million, up significantly from the year-ago quarter, when it earned $2.05 a share and generated $820.81 million in sales.

Carnival, which has been impacted severely by the pandemic, is expected to lose $2.22 a share.

IBM said on Thursday it would spin off its managed infrastructure services unit into a newly public traded company, as the tech services giant continues to focus on its hybrid cloud business.

Shares of the Armonk, N.Y.-based firm were gaining more than 5% in early Thursday trade.

Reprinted from yahoofinance, the copyright all reserved by the original author.

#StockMarket##USElection2020##US#

Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.

FOLLOWME Trading Community Website: https://www.followme.com

If you like, reward to support.
avatar

Hot

Verified Media
Relieved to see that the debates between the VP candidates were less 'hot' than the Presidential candidates one! And the markets clearly agree!😄

-THE END-