Stock futures opened flat to slightly higher Thursday night after a mixed session earlier, with tech stocks leading the Nasdaq to back-to-back sessions with progress while the S&P 500 and Dow fell.
Shares of Apple (AAPL) fell to lower late trading after rising to a record high earlier Thursday. Bloomberg reported that the iPhone maker was preparing to release a new bundle of subscriptions, which would include a package of its service offerings such as Apple Music and Apple TV + in an attempt to unlock a new recurring revenue stream. Meanwhile, Epic Games sued Apple after its “Fortnite”
Elsewhere, market participants continued to digest Thursday’s estimates, which topped weekly unemployment claims reports showing the first dip below $ 1 million in new weekly unemployment insurance claims since the start of the pandemic. The reading, while reflecting an improvement over the worst points of the pandemic period, may also take some pressure from lawmakers to quickly adopt a new round of stimulus legislation, some analysts warned.
The U.S. Senate postponed the August sinking Thursday without passing a new Covid bill for emergency aid, as a stalemate between key negotiators showed no signs of diminishing. Senators and members of the U.S. House of Representatives are not scheduled to return to Washington until after Labor Day, though Senate Majority Leader Mitch McConnell said senators would receive at least 24 hours notice to return if negotiators called for an agreement and planned a vote in preliminary.
Investors will receive a few more reports on the state of the US consumer on Friday. The Department of Commerce’s retail sales report on Friday morning is expected to show a declining monthly gain of 2.0%, down from a 7.5% increase in June, as the recovery in April’s historic decline slows. The University of Michigan’s preliminary studies of consumer reports later in the morning are expected to show that consumer sentiment prolongs its decline from July, with concerns about a lapse in federal-improved unemployment insurance and other stimulus measures weighing.
18:03 ONE THURSDAY: Stock futures are trading slightly higher
Here were the main movements in the stock markets at. 18:03 ET:
S&P 500 futures (ES = F): 3,371.00, up 3.25 points or 0.1%
Dow futures (YM = F): 27,842.00, up 19 points or 0.07%
Nasdaq futures (NQ = F): 11,187.5, up 12.25 points or 0.11%
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