Dow Jones futures point to flat open following mixed Thursday session
As uncertainty persists, Dow futures suggest the key US benchmark will open a shade higher on Friday, 19 June.
Dow Jones futures trade higher
Thursday proved to be a mixed session for US markets, with the Dow Jones Industrial Average finishing the session down 0.15% or 39 points to 26,080; the S&P 500 index eked out a gain of 0.06% or 1.85 points to finish at 3,115; while the NASDAQ composite proved to be the best performing of the three, adding 0.33% or 32 points to close at 9,943.
On a more granular level, the best performing Dow constituents were Procter & Gamble, Travelers and Microsoft; while the worst performing were American Express, Goldman Sachs and Pfizer.
Looking forward, as of 8:16pm (EDT) Dow Jones futures are trading 93.8 points or 0.36% higher. By 8:59 however Dow futures were flat, up just 29.3 or 0.11%, suggesting an uncertain open on Friday.
Data that moved the market
The US Labour Department yesterday reported that an additional 1.5 million individuals had applied for jobless benefits – for the week ending June 13. While these initial jobless claims figures were lower than the week prior, they came in below expectations, with economists, polled by Reuters, expecting initial jobless claims for the week to come in at 1.3 million.
Elsewhere, during the week, US Fed Chair Jerome Powell warned that timing and strength of the economic recovery in the US economy remained uncertain.
‘Much of that economic uncertainty comes from uncertainty about the path of the disease and the effects of measures to contain it. Until the public is confident that the disease is contained, a full recovery is unlikely,’ Mr Powell said.
Indeed, coronavirus cases in the US continue to tick higher, with many still concerned about a second wave outbreak. At the time of writing there were ~2.2 million reported coronavirus cases in the US, representing around 25% of the global reported case count.
Dow Jones: a technical outlook
Looking at the Dow’s recent fluctuations from a technical perspective, IG Senior Market Analyst, Joshua Mahony yesterday said:
‘The Dow Jones declines seen throughout much of the US session has been eased overnight, with the index regaining ground as we move into European trade. However, those losses yesterday do point towards a potential turn lower once again, with the current rally looking like a bearish retracement given the drop below 26,079 and 25,802 overnight.’
How to trade US stocks after hours with IG
Trading pre- and post-market enables you to take a position on key US shares – like Tesla, Apple, Amazon and Netflix – outside normal trading hours.
Most AU traders can only trade the US stock market's from 23.30 to 06.00 AEST, but with our extended hours you can trade for much longer.
- CFDs on All Session US shares
18.00 to 10.00 Monday to Thursday, and 18.00 Friday to 07.00 Saturday AEST
- Share trading on All Session US shares
21.00 to 07:30 Monday to Thursday, and 21.00 on Friday to 07.00 Saturday AEST
You'll find our extended trading hours markets labelled ‘All Session’, to distinguish them from the shares which can only be traded in normal US market hours.
This information has been prepared by IG, a trading name of IG Australia Pty Ltd. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
Seize a share opportunity today
Go long or short on thousands of international stocks.
- Increase your market exposure with leverage
- Get commission from just 0.08% on major global shares
- Trade CFDs straight into order books with direct market access
Live prices on most popular markets
- Forex
- Shares
- Indices
