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Wall Street futures rise after US unemployment data


April, 07 2023
watermark Economic news

According to trading data, futures on US stock indexes on Friday moved to growth after the publication of unemployment data in the United States.


Thus, futures for the Dow Jones industrial index increased by 0.17%, to 33715 points, futures for the NASDAQ high–tech index - by 0.01%, to 13172 points, futures for the S&P 500 broad market index increased by 0.16%, to 4138.75 points.


The growth driver was the statistics released today on the US labor market (Non-Farm Payrolls). According to recent data, unemployment in March unexpectedly fell to 3.5% from 3.6% a month earlier, although analysts predicted that the indicator would remain at the same level. Statistics on the number of jobs in non-agricultural sectors of the economy turned out to be slightly worse than expected: the indicator increased by 236 thousand jobs. An increase of 239 thousand was expected.


It is worth noting that before the release of the data, futures declined slightly after the statement of the head of JP Morgan, Jamie Dimon. In his interview, Dimon said that the banking crisis in the United States, which began after the bankruptcy of Silicon Valley Bank in early March, increased the risks of recession in the country. He noted the reduction in lending and the general economy of citizens of the United States.


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