por admin » Jue Abr 30, 2020 8:06 am
Dow futures fall more than 200 points as jobless toll from virus tops 30 million
PUBLISHED WED, APR 29 20206:06 PM EDTUPDATED MOMENTS AGO
Fred Imbert
@FOIMBERT
Thomas Franck
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Wall Street set for more gains following Wednesday’s rally
U.S. stock futures fell on Thursday, the last day of April, as investors digested another dire unemployment report along with strong earnings from major tech companies.
Dow Jones Industrial Average futures fell 253 points, or 1%. S&P 500 futures were lower by nearly 1%. Nasdaq-100 futures dipped 0.2%, giving back an earlier gain.
The Labor Department said another 3.84 million Americans filed for unemployment benefits last week, bringing the six-week total to more than 30 million.
Futures also retreated after the European Central Bank said it was prepared to increase its emergency asset purchase program. Some traders were hoping the ECB would announce an increase Thursday.
Stocks surged on Wednesday on Wednesday. The S&P 500 is up more than 13% for the month and on track for its biggest one-month gain since 1974. The Dow is up 12% in April, which would be its best month since 1987.
Both Facebook and Microsoft reported promising revenue figures despite the global coronavirus outbreak.
Facebook soared more than 9% in premarket trading after it reported that, after an initial “significant” pullback in advertising revenues in March thanks to Covid-19, it’s seen sales stabilize in the first three weeks of April. It reported first-quarter per-share earnings of $1.71 and revenues of $17.74 billion.
Microsoft rose about 2% in premarket trading after the company reported fiscal third-quarter sales growth of 15% thanks to growth in its cloud business. The software giant said in a statement that the disease “had minimal net impact on the total company revenue” in the three months ended March 31, but cautioned that “effects of COVID-19 may not be fully reflected in the financial results until future periods.”
CH 20200429 SP500 looking for a bottom
The Dow Jones Industrial Average rose 532.31 points, or 2.2%, to 24,633.86 during Wednesday’s session. The S&P 500 gained 2.66% to 2,939.51 while the Nasdaq Composite closed 3.57% higher at 8,914.71.
Investors cited developments at Gilead Sciences for the market’s pop during Wednesday’s session after the biotech company reported positive results from two tests that showed its drug remdesivir could be a Covid-19 treatment. Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, said remdesivir shows a “clear-cut” positive effect when treating the virus.
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