The Department of Labor released its weekly report on new jobless claims Thursday at 8:30 a.m. ET.
Varsha Waishampayan, Wings For Growth CEO & Founder, joins Yahoo Finance’s Kristin Myers and Alexis Christoforous to discuss Asian female representation in corporate America.
(Bloomberg) -- U.S. equity futures were steady after data showed jobless claims fell more than forecast last week. The dollar stayed lower alongside Treasuries.Contracts on the S&P 500 Index were little changed as initial claims dropped to 498,000 in the week ended May 1, compared with a median estimate of 538,000 claims. Traders will be parsing the reading for clues on what Friday’s hotly-anticipated payrolls number might bring.Tesla Inc. shares gained in pre-market trading on a report that its second-quarter production capacity is already sold out. Iron ore climbed and steel futures hit fresh records amid renewed demand from China.The Stoxx 600 Index swung from a gain to a loss on a mixed batch of corporate results. Vaccine makers plunged after the European Union backed a plan to discuss waiving vaccine-patent protections. The pound swung after the Bank of England slowed the pace of its bond buying while leaving rates unchanged.Amid strong labor-market data, investors are increasingly focused on when the Federal Reserve might start throttling back its emergency support. Economists surveyed by Bloomberg expect the Fed will announce a reduction in the pace of bond purchases in the fourth quarter. While Chair Jerome Powell hasn’t yet shifted from his message that it’s too soon to discuss such a move, policy makers have begun to address the issue more directly.Boston Federal Reserve President Eric Rosengren suggested that the U.S. mortgage market no longer needs as much support, advancing the debate on when the central bank might start tapering its monthly bond purchases. Meanwhile, the U.S. Treasury’s auction schedule suggested the government’s financing needs may have peaked.With Covid-19 cases starting to roll over, “reopening prospects should improve again, and the reflation trade should gather steam again over the coming months,” Esty Dwek, head of global market strategy at Natixis Investment Managers Solutions, said in a note. “The medium-term supports for equities remain unchanged.”Elsewhere, Asia stocks were mixed, with shares falling in China as officials announced a formal suspension of an economic dialogue with Australia, a further deterioration of relations between the two countries.Here are some key events to watch this week:The April U.S. employment report is released on FridayFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.