Market Reaction
Stock futures surged Thursday as better-than-expected jobless claims numbers eased recent economic concerns. S&P 500 futures rose 0.8%, Nasdaq 100 futures jumped 1.2%, and Dow Jones futures gained 0.5%. This follows a volatile week with economic worries and tech stock swings.
Jobless Claims Boost Sentiment
Lower-than-expected unemployment claims countered fears sparked by last Friday’s jobs report, which showed an unexpected rise in the unemployment rate to 4.3%. This led to speculation that the Federal Reserve might need to cut interest rates more aggressively.
Treasury Yields Hold Steady
The 10-year Treasury yield, which dropped below 3.7% earlier this week, hovered near 4% after the jobless claims data.
Eli Lilly’s Strong Performance
Eli Lilly shares soared 12% in premarket trading, driven by strong quarterly results and increased guidance, particularly from weight-loss drug sales.
Trading Strategy
Look for potential buying opportunities in tech stocks and Eli Lilly as market sentiment improves. Monitor Treasury yields closely for any signs of economic shifts.
