(Editor’s note: The future prices of benchmark tracking ETFs, and the headline, the lede and the economic were updated in the story.)
U.S. stock futures rose on Thursday after Wednesday’s record rally. This followed President Donald Trump‘s celebration of record stock market gains.
On the economic data front, initial jobless claims for the week ending May 2 increased by 10,000 to a seasonally adjusted 200,000. Simultaneously, preliminary first-quarter data revealed that nonfarm business labor productivity increased by 0.8%, while unit labor costs advanced by 2.3%, offering investors insight into wage pressures and the broader trajectory of the U.S. labor market.
Trump said that strong job growth and rising retirement accounts reflected continued economic momentum. He posted on Truth Social, “Stock Market hit an ALL-TIME HIGH TODAY. Jobs & 401-K’s are BOOMING!!!”
Speaking to reporters about Iran at the White House, Trump said, “They want to make a deal. We’ve had very good talks over the last 24 hours, and it’s very possible that we’ll make a deal.”
Meanwhile, the 10-year Treasury bond yielded 4.33%, and the two-year bond was at 3.85%. The CME Group’s FedWatch tool‘s projections show markets pricing a 94.1% likelihood of the Federal Reserve leaving the current interest rates unchanged during June’s meeting.
| Index | Performance (+/-) |
| Dow Jones | 0.11% |
| S&P 500 | 0.13% |
| Nasdaq 100 | 0.14% |
| Russell 2000 | 0.10% |
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 and Nasdaq 100, respectively, were higher in premarket on Thursday. The SPY was up 0.13% at $734.82, while the QQQ advanced 0.032% to $695.97.
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