U.S. stock futures are mixed, with the Dow Jones Industrial Average closing above 30,000 points for the first time the next day.
Dow futures are 0.2% lower, while Nasdaq futures suggest a 0.2% increase.
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The index hit the mark despite the ongoing epidemic as progress in the development of coronavirus vaccines kept investors in the mood.
DOW HAPPENED 30,000 STORIES, S&P FRESH RECORDED YELLOW, VACCINE OPTIMISM
The Dow rose more than 450 points, or 1.5%, to cross the milestone. The S&P 500 index, which has a much greater impact on 401 (k) accounts than the Dow, rose 1.6%, climbing to its own peak.
The technology-heavy Nasdaq composite raised 156.15 points and 1.3% to 12,036.79 points.
|I: DJI||DOW JONES AVERAGES||30046.24||+454.97||+ 1.54%|
|SP500||S&P 500||3635.41||+57.82||+ 1.62%|
|I: COMP||NASDAQ COMPOSITE INDEX||12036.785414||+156.15||+ 1.31%|
Plenty of economic data appears before Thanksgiving Day.
Traders receive a second estimate of 3Q GDP. Refinitiv forecasts annual growth of 33.2%, slightly below the initial estimate of 33.1% growth, which was a record high.
At the same time, the first unemployment claims are released. It is expected to drop to 730,000.
The Census Bureau is expected to say orders for new large-scale products rose 0.9% month-on-month in October. If you calculate shipping parts, orders are expected to increase by 0.5%. Orders for basic capital goods, a closely watched example of business expenses, also rose 0.5% in the month.
The Department of Commerce reports personal income and expenses in October. Economists interviewed by Refinitiv expect spending to rise by 0.4% month-on-month, up from 1.4% in September. Revenues, meanwhile, were likely to be low after a 0.9% increase in September.
The Census Bureau expects sales of new single-family homes to increase by 1.5% on a seasonally adjusted annual basis to 970,000.
The University of Michigan’s final consumer emotion index is expected to remain unchanged for November from a preliminary reading of 77 two weeks ago.
In Europe, London FTSE fell 0.5%, German DAX fell 0.3% and French CAC fell 0.1%.
In Asian markets, Japan’s benchmark, the Nikkei 225, rose 0.5%, Hong Kong’s Hang Seng rose 0.3%, while the Shanghai Composite fell 1.2%.
Traders continued to favor stocks that could best benefit from the gradual reopening of the economy, such as banks and industrial companies. Technology and communications stocks that have been a favorite of investors through the pandemic have also contributed to the rise of the market.
GETTING READY TO PREPARE TO AVOID CORONAVIRUS VACCINE TO THANK YOU FOR THE WARP SPEED OF OPERATION, PRESIDENT’S TRUMP
Many candidates are working on a vaccine. According to pharmaceutical company AstraZeneca, its potential vaccine, developed with the University of Oxford, was up to 90% effective. Unlike rival candidates, AstraZeneca products do not need to be stored at extremely cold temperatures, making distribution easier. Pfizer and Moderna also reported study results showing that their vaccines were almost 95% effective.
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In the energy trade, comparative U.S. crude oil rose 20 cents a barrel to $ 45.12. International standard Brent crude rose 28 cents to $ 48.14 a barrel.
The Associated Press contributed to this article.