Stock futures mixed after higher-than-expected weekly jobless claims

FAN Editor

U.S. stock futures were mixed Thursday as Big Tech outperformed a day after the S&P 500 finished at record highs. 

Dow Jones Industrial Average futures fell 5 points, or 0.02%, while S&P 500 futures and Nasdaq futures were higher by 0.33% and 0.87%, respectively. 

The S&P closed at an all-time high Wednesday after minutes from the Federal Reserve’s March meeting showed the central bank plans to continue the pace of its asset purchase program in an effort to meet its dual mandate of maximum employment and price stability. 

On the economic front, the number of Americans filing first-time jobless benefits was higher than expected. The Labor Department said Thursday initial claims totaled 744,000, more than the 680,000 forecast by economists.

In stocks, Big Tech stocks were outperforming with Microsoft Corp. and Apple Inc. pacing the Dow. 

Meanwhile, Inc’s union election in Alabama had a 55% turnout with the vote tally expected to begin as early as Thursday afternoon. The workers could become the first to unionize an Amazon facility. 

In earnings, Constellation Brands Inc. reported quarterly earnings and revenue that exceed Wall Street estimates. The beverage producer expects beer sales to decline 7% to 9% in the current fiscal year and wine and spirit sales to fall 22% to 24%. 

In commodities, West Texas Intermediate crude oil lost 29 cents to $59.48 per barrel and gold added $7.50 to $1,749.10 an ounce.


Overseas markets traded mixed. 

France’s CAC 40 outperformed in Europe, trading up 0.38% while Britain’s FTSE 100 advanced 0.27% and Germany’s DAX 30 fell 0.17%. 

In Asia, Hong Kong’s Hang Seng index climbed 1.16%, China’s Shanghai Composite index ticked up 0.08% and Japan’s Nikkei 225 slipped 0.07%.

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