Market Snapshot: S&P 500 futures aim for 19th record of 2021 as investors await jobless claims

By Mark DeCambre3 days ago

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The S&P 500 index looked on track to add to its record run on Thursday, with technology shares set to help in that campaign, while the Dow looked flat, ahead of expected comments from Federal Reserve Chairman Jerome Powell and weekly data on U.S. unemployment benefits.

How are stock benchmarks faring?

  • Futures for the Dow Jones Industrial Average YMM21, +0.01% YM00, +0.01% were down 13 points at 33,315, a slide of less than 0.1%.
  • S&P 500 futures ESM21, +0.34% ES00, +0.34% were gaining 15.10 points to reach 4,085, a gain of 0.4%.
  • Nasdaq-100 futures NQM21, +0.84% NQ00, +0.84% advanced 129 points, or 1%, at 13,733.75.

On Wednesday, the S&P 500 SPX, +0.15% added 6.01 points, or 0.2%, enough to finish at a record 4,079.95, its 18th of the year. The Dow DJIA, +0.05% rose 16.02 points, or 0.1%, to close at 33,446.26, its second-highest finish ever, the Nasdaq Composite Index COMP, -0.07% shed 9.54 points, or 0.1%, ending at 13,688.84, while booking a second day in a row of losses. The small-cap oriented Russell 2000 index RUT, -1.60% slumped 1.6% to close at 2,223.05.

Whats driving the market?

A day after minutes from the Federal Reserves March policy meeting were released, the market may get more clarity from the central bank on the path forward.

Fed Chairman Powell is set to discuss the global economy at a webcast conference hosted by the International Monetary Fund at 12 p.m. Eastern Time Thursday.

On Wednesday, minutes from Fed policy makers March 16-17 meeting indicated concerns about the recovery in the job market which is still recovering from the COVID pandemic.

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