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US STOCKS-Futures at record high ahead of monthly employment data

Published 08/01/2021, 12:59
Updated 08/01/2021, 13:00
© Reuters.
BIDU
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MU
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(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window.)
* Futures up: Dow 0.3%, S&P 0.4%, Nasdaq 0.5%

By Devik Jain
Jan 8 (Reuters) - Futures tracking Wall Street's main
indexes scaled new highs on Friday, as investors counted on more
economic stimulus to ride out a pandemic-led downturn ahead of
the crucial jobs report.
The U.S. government data is expected to show labor market
recovery slowed sharply in December, likely due to surging
COVID-19 cases across the country.
The S&P 500 closed above 3,800 points for the first time on
Thursday as expectations of a bigger fiscal package and
infrastructure spending under President-elect Joe Biden's
administration sparked demand for financial, industrial and
material stocks.
The Dow and the Nasdaq are on track for fourth straight
weekly gains even as Congressional Democrats on Friday weighed
impeaching President Donald Trump for a second time, two days
after his false claims of election fraud helped encourage a mob
that stormed the U.S. Capitol. At 06:43 a.m. ET, Dow E-minis 1YMcv1 were up 96 points, or
0.31%, and Nasdaq 100 E-minis NQcv1 were up 60.75 points, or
0.47%.
Among individual stocks, Micron Technology Inc MU.O rose
4.5% after the chipmaker forecast second-quarter revenue above
estimates as a global shift to remote work and a recent uptick
in 5G smartphone adoption drove demand for its chips.
U.S.-listed shares of Baidu Inc BIDU.O jumped 5.2% on
plans to form a company to make smart electric vehicles,
according to two sources familiar with the matter.

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