5 things to know before the stock market opens Thursday, October 7
Here are the top news, trends and analysis that investors need to start their trading day:
Traders on the floor of the New York Stock Exchange, October 6, 2021.
Brendon McDermid | Reuters
Dow futures rose 300 points Thursday as Democratic senators signaled that they accept a debt ceiling offer from the Republican leader in the Senate. Mitch McConnell That would allow for an emergency increase through December. Optimistic about a possible deal Wall Street swung from sharp losses early Wednesday to modest gains at the close Dow Jones Industrial Average, The Standard & Poor’s 500 and the Nasdaq. All three indices were tracking Thursday’s three-session winning streak after starting October with sharp losses and gains back and forth.
Career fair in Louisville, Kentucky, on June 23, 2021.
Luke Sharett/Bloomberg via Getty Images
The 10-year treasury bond yield It was fixed on Thursday and remained above 1.5% Ahead of the Labor Department’s weekly look at initial jobless claims. Economists expect jobless claims to be filed for the first time at 345,000 for the week ending October 2nd. This is down from 362,000 new claims last week. The government releases its September employment report on Friday. The ADP’s look at last month’s private sector employment trends, released on Wednesday, came in stronger than expected.
Senate Minority Leader Mitch McConnell, a Republican from Kentucky, speaks during a news conference following a lunch for Senate Republican politics at the U.S. Capitol in Washington, D.C., Tuesday, September 14, 2021.
Stephanie Reynolds | Bloomberg | Getty Images
McConnell said late on Wednesday introduced its own debt ceiling Will give the Democrats time To use their majority on Capitol Hill to draft a bill to raise the borrowing limit themselves without Republican votes. The deadline to take action on the debt limit and avoid a US credit default is October 18. If Democrats agree to McConnell’s offer, lawmakers will once again face pressing deadlines to fund the government and raise the debt limit before heading home for the holidays.
US President Joe Biden talks about the bipartisan infrastructure bill and the Rebuilding Better agenda at the International Federation of Operational Engineers training facility in Howell, Michigan, on October 5, 2021.
Nicholas Cam | AFP | Getty Images
President Joe Biden Thursday He is scheduled to visit Chicago To meet with the CEO of United Airlines and local Democratic leaders as he promotes his decision to impose Covid vaccine mandates on employees of large corporations. Biden last month ordered that all federal workers and contractors be vaccinated, with a few exceptions. For private sector employers with 100 or more workers, suggest that employees be vaccinated or tested weekly. while, Pfizer Thursday said that Request from the Food and Drug Administration to license its own Covid vaccine Biotechnology For children from 5 to 11 years old.
Hungarian-born American investor and philanthropist George Soros speaks on the sidelines of the annual meeting of the World Economic Forum (WEF), on January 23, 2020 in Davos, eastern Switzerland.
Fabrice Cofferini | AFP | Getty Images
Soros Fund Management, the asset management company founded by billionaire investor and philanthropist George SorosShe revealed that she owns the cryptocurrency Bitcoin. The family office owns “some coins…but not much,” Don Fitzpatrick, CEO and CIO of Soros Fund Management, He said in an interview at a Bloomberg event this week. While it fell on Thursday, bitcoin has seen a comeback in recent days, trading above $54,000.