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The News and Media Division of The Insight Partners
Friday, 03 Apr 2020 05:00 pm

Futures dip ahead of non-farm payrolls & business activity data

Walt Disney Co (DIS.N) said on Thursday it would furlough some U.S. employees this month, while sources said luxury retailer Neiman Marcus was stepping up preparations to seek bankruptcy protection.

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U.S. stock index futures fell on Friday, with investors awaiting data on non-farm payrolls and business activity to assess the extent of the economic hit from the coronavirus.

Wall Street gained about 2% on Thursday as oil soared on hints of a Saudi-Russia deal, but doubts returned on whether the rebound would last as demand tapers off due to the health crisis.

Walt Disney Co (DIS.N) said on Thursday it would furlough some U.S. employees this month, while sources said luxury retailer Neiman Marcus was stepping up preparations to seek bankruptcy protection.

Data at 10 a.m. ET is expected to show a reading of ISM’s non-manufacturing activity index dropped to 44 in March from 57.3 in February.

A reading below 50 indicates contraction in the services sector, which accounts for more than two-thirds of U.S. economic activity.

A closely-watched Labor Department employment report is expected to show the U.S. economy shed jobs in March, but it will likely not fully reflect the full extent of the layoffs as it covers data until March 12.

At 05:53 a.m. EDT, Dow e-minis 1YMcv1 were down 285 points, or 1.34%, S&P 500 e-minis EScv1 were down 31.75 points, or 1.26% and Nasdaq 100 e-minis NQcv1 were down 93.75 points, or 1.23%

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Tags Stock Market United States Economy Wall Street Shares Coronavirus Pandemic Jobless claims

Neha Pandey

Aware of her elements, Neha writes the best articles across industries including electronics & semiconductors, automotive & transportation and food & beverages. Being from the finance background she has the ability to understand the dynamics of every industry and analyze the news updates to form insightful articles. Neha is an energetic person interested in music, travel, and entertainment. Since past 5 years, she written extensively on sectors like technology, finance and healthcare.


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