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U.S. stock futures higher before jobless claims

Publish Date23/08/2012 12:06:24 PM

Last Update23/08/2012 12:57:59 PM

U.S. stock futures higher before jobless claims

Optimism is still out there after all and the Standard & Poor`s 500 Index will most likely start the day higher as traders continued to feed on hopes that the Federal Reserve will push ahead additional monetary easing to help the world`s largest economy after the Federal Reserve`s meeting minutes provided a sigh of releif for stoked markets.

Stock-index futures rose before U.S. jobless claims and new-home sales reports at 08:30 a.m. EST, whereas of 06:15 a.m. EST, Dow Jones Industrial Average futures expiring in September were up 0.25 percent at 13,189. Standard & Poor`s 500 futures were higher 0.27 percent at 1,416.20, while NASDAQ 100 futures gained 0.225 percent to 2,787.50.

"Many members judged that additional monetary accommodation would likely be warranted fairly soon unless incoming information pointed to a substantial and sustainable strengthening in the pace of the economic recovery." the Fed`s July`s meeting minutes showed on Wednesday. The minutes supported equities closing higher yesterday.

At 08:30 a.m. the Labor Department will report the weekly jobless claims, a closely watched indicator which tracks the change in the number of Americans filing for unemployment insurances over in the week prior of the release. The Initial jobless claims are expected to stay around the 365 thousand areas, not that far for its record low.

July`s employment situation was not dramatic but the payroll job strong gain apparently improved from June; however the unemployment rate headed the wrong way. The unemployment rate rose to 8.3 percent from 8.2 percent in June. Separately, another report may show that U.S. new home sales probably rose 3.40 percent to annual rate of 362 thousand in June, from 350 thousand in June.

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