By Devik Jain and Medha Singh
(Reuters)-Walgreens shares raise their annual profit outlook, although records were set on Thursday to kick off the second half of the year after data showed less than expected weekly unemployment claims. After that it rose.
According to official data, the number of Americans filing new unemployment claims fell by 364,000 last week, but in June the layoffs fell for the first time in 21 years as companies detained workers in a labor shortage. It fell to the low level of.
Data on US factory activity and construction spending is scheduled for 10 am Eastern Standard Time.
With the S & P 500 and Nasdaq hitting a series of record highs last month, investors are very focused on Friday’s non-farm payrolls report.
“The market wants a labor market that is neither too hot nor too cold,” said Rick Meckler, a partner at Cherry Lane Investments, a family investment firm in New Vernon, NJ.
The Fed’s stunning hawkish tone in June has accelerated the transition from the energy, financial and industrial names that most benefit from the resumption of the economy to so-called “safe shelter” tech-intensive growth stock. I did.
We will also shift our focus to the second quarter earnings season, which begins in July, to determine if the momentum in the first half will continue for the remaining year.
“The market has made a year’s worth of profits. We anticipate a period of integration and continuous rotation within the sector,” Meckler said.
At 8:39 am ET, it rose 63 points (0.18%), rose 6 points (0.14%) and fell 5.75 points (0.04%).
Walgreens Boots Alliance (NASDAQ :) Inc saw a 1% increase in third-quarter revenue due to increased pharmacy sales and the spread of the COVID-19 vaccine in the United States.
Didi Global Inc valued China’s ride-haling giant at $ 68.49 billion, soaring 9.1% the day after its initial public offering.
Chevron Corp (NYSE :), Exxon mobile (NYSE :), Halliburton (NYSE :) Co, Marathon oil Corp (NYSE :), ConocoPhillips (NYSE :), and Occidental Petroleum Corp (NYSE :) rose between 1.5% and 3.1% due to a 2% rise in crude oil prices.[O/R]
Micron Technology Inc (NASDAQ :) fell 1.8% as chip makers sold their Utah factory to Texas Instruments (NASDAQ :) Inc for $ 900 million to increase their production capacity.
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The S & P 500 will begin in late 2021 with a record opening by Reuters.
https://www.investing.com/news/stock-market-news/sp-futures-near-record-high-with-jobless-claims-in-focus-2547406 The S & P 500 will begin in late 2021 with a record opening by Reuters.