US equity futures were dropped ahead of Thursday’s session on Wall Street because of concerns about coronovirus stimulation.
The major futures index is suggesting a fall of 1.0% or more than 200 Dow points.
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The US Federal Reserve on Wednesday indicated that its benchmark interest rate would remain close to zero until at least 2023 but did not announce additional stimulus plans.
Chairman Jerome Powell promised the Fed “we will not lose millions of Americans who live out of work” but gave no sign of new excitement.
Following the Fed’s comments, Wall Street’s benchmark S&P 500 index closed down 0.5%. The Dow Jones Industrial Average rose 0.1% to 28,032.38. The Nasdaq Composite closed down 1.3% at 11,050.47.
|The anchor||Security||The last||Change||Change %|
|Me: DJI||Dow jones average||28032.38||36.78||+ 0.13%|
|Me: comp||NASDAQ Composite INDEX||11050.469071||-139.85||-1.25%|
On Thursday, the Labor Department expects the number of unemployment benefit claims to have dropped to 850 thousand last week, down 34,000 from the previous week’s tally of 884,000 and the lowest reading since March 14 from the coronovirus lockdown Is right before
The Commerce Department is expected to say that the number of new homes slipped 1.2% at an annual seasonally adjusted rate of 1.47 million million in August. For reference, housing starts falling to a 5-year low of 934,000 of the epidemic in April. Permits for future construction are estimated to increase by 2.5% to 1.52 million.
Finally, the Philly Fed is out with its September index of manufacturing activity for eastern Pennsylvania, South Jersey and Delaware. It is expected to slip from 17.2 to 15 in August.
There are completely different examples for FED SIGNALS INTERITE, such as the US economy from zero sum 2023 to now
In Asia on Thursday, the Japanese central bank left its interest rates unchanged and gave no indication about possible additional stimulus.
Nikkei fell 0.7% in Tokyo, Hang Seng 1.6% in Hong Kong and China’s Shanghai Composite Index fell 0.4%.
In Europe, London’s FTSE is down 0.8%, Germany’s DAX is down 0.8%, and France’s CAC is down 0.9%.
American investors are counting on Congress for a new support package after additional unemployment benefits, which help end consumer spending deadlines, but deter legislators on its potential size.
The Fed estimates that the economy will shrink 3.7% this year, an improvement in June’s outlook for a 6.5% decline. The Fed projected a year-end unemployment rate of 7.6% instead of an estimated 9.3% in June.
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In energy markets, US crude for electronic delivery on the New York Mercantile Exchange fell 18 cents to $ 39.98 a barrel in electronic trading. The contract rose from $ 1.88 to $ 40.16 on Wednesday. Brent crude oil for November delivery shed 15 cents to $ 42.07 a barrel in London. It increased to $ 42.22 from $ 1.69 the previous season.
The Associated Press contributed to this article.