US STOCKS-Dow, S&P 500 futures dip at end of strong month; jobless data awaited

Published 30/04/2020, 12:19
© Reuters.
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* Futures mixed: Dow up 0.1%, S&P down 0.09% , Nasdaq up
0.34%

By C Nivedita
April 30 (Reuters) - Dow and S&P 500 stock index futures
dipped on Thursday as nerves kicked in at the end of an overall
strong month for stocks with investors awaiting the weekly
jobless claims data, while Nasdaq futures rose after upbeat
earnings from Facebook and Tesla.
Historic U.S. monetary and fiscal stimulus and hopes of a
revival in business activity as states reopen from lockdowns
have powered a Wall Street rally in April, putting the S&P 500
.SPX on course for its best month since 1974.
All three U.S. stock indexes ended Wednesday's session
closer to all-time highs reached in February after positive
partial data from a trial of Gilead Science Inc's GILD.O
antiviral remdesivir showed an improved recovery rate in
COVID-19 patients.
Although data is likely to show weekly jobless claims
stabilized after scaling record highs in March, other numbers
have shown that the U.S. economy is set for its sharpest
contraction since the Great Recession. The Federal Reserve pledged on Wednesday to expand emergency
programs to revive growth but dashed hopes for a fast rebound,
saying the economy could feel the weight of consumer fear and
social distancing for a year. Facebook Inc FB.O rose 8.6% after beating analysts'
estimates for first-quarter revenue and saying it had seen
"signs of stability" for ad sales in April after a plunge in
March. Electric car maker Tesla Inc TSLA.O gained 8.5% after
posting its third straight quarterly profit, taking investors by
surprise as its automaker peers were hit by a slump in consumer
demand and factory shutdowns. Investors will parse through earnings reports from American
Airlines AAL.O and McDonald's Corp MCD.N , while the two
remaining FAANG stocks - Apple Inc AAPL.O and Amazon.com
AMZN.O - will issue results after markets close.
At 06:43 a.m. EDT, Dow e-minis 1YMcv1 were up 25 points,
or 0.1%, S&P 500 e-minis EScv1 were down 2.75 points, or 0.09%
and Nasdaq 100 e-minis NQcv1 were up 30.5 points, or 0.34%.
SPDR S&P 500 ETFs SPY.P were up 0.29%.
The S&P 500 index .SPX closed up 2.66% at 2,939.51​ on
Wednesday.

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