Futures Bounce Back as Weekly Jobless Report Arrives

The weekly US jobless claims report is in as index futures bounce back before the morning open.

Seasonally adjusted claims saw a slight increase for the week of February 27, increasing by 9,000 to 745,000 claims. The week prior has been adjusted to 4,295,000, which is a decrease of 124,000 from previously unadjusted data.

The current four week moving average is down by 99,000 to 4,547,000.

Unadjusted claims for the week of February 27 saw an increase of 31,519 to 748,078 (+4.4%), with the insured unemployment percentage rate remaining the same at 3.3% for the nation.

Index futures like the Dow and S&P responded to the news, bouncing back slightly this morning from their creep downward.

Dow futures had slid by 36 points earlier, but have now bounced back, up 154 points to 31,394 (+0.5%), with S&P 500 futures trading 14 points higher at 3,832 (+0.38%) after a skid of 9 points.

Nasdaq-100 futures fell by nearly 0.3% this morning, but are back up around 12,738, a 14 point increase (+0.32%).

Investors now wait to hear Fed Chairman Jerome Powell, as he prepares to speak at a Wall Street Journal conference at noon today.

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