The Thursday Market Minute

  • Global stocks rally on U.S. stimulus hopes even as rising coronavirus infections suggest slowing growth in the months ahead.
  • U.S. lawmakers signal the potential for compromise on a coronavirus relief bill, as well as support for the airline sector, as job losses loom.
  • Japan’s TSE suffers technical failure that keeps the Nikkei 225 close for the first time since 1999.
  • Weekly jobless claims at 8:30 am Eastern time follow a stronger-than-expected ADP employment report on Wednesday and non-farm payrolls on Friday.
  • Oil prices drift lower as U.S. domestic crude stocks rise by 3.5 million barrels to the highest levels since May.
  • U.S. equity futures suggest a  firmer open on Wall Street to start the fourth quarter ahead of weekly jobless numbers and earnings from Pepsi and Constellation Brands.

U.S. equity futures jumped higher Thursday, while the dollar fell and oil prices slipped lower, as investors looked to hopeful signals on a new multi-trillion stimulus package from Washington following solid economic data that closed out the third quarter.

Markets were also boosted by a stronger-than-forecast reading of weekly jobs claims, which showed that 837,000 Americans filed for unemployment benefits last week, down from 873,000 in the prior period and just shy of the Street’s 850,000 forecast.

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