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Post-Election Rally Subsides, Driving Muted Premarket Action for US Equity Futures
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Post-Election Rally Subsides, Driving Muted Premarket Action for US Equity Futures
Nov 9, 2024 12:06 PM

08:05 AM EST, 11/07/2024 (MT Newswires) -- US equity futures were little changed Thursday as the post-election rally subsides.

The Dow Jones Industrial Average futures gained 0.1%, S&P 500 futures increased 0.2%, and Nasdaq futures were up 0.3%.

Major equity benchmarks closed higher Wednesday after Donald Trump won the presidential election.

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.7% at $74.38 per barrel and US West Texas Intermediate crude down 0.8% at $71.08 per barrel.

New unemployment claims, scheduled for release at 8:30 am ET, are expected to rise to 223,000 in the week ended Nov. 2 from 216,000 in the preceding week. Nonfarm productivity is seen rising at a 2.6% rate in Q3, while unit labor costs are expected to increase by a 1.1% rate.

The Federal Open Market Committee is scheduled to release a policy statement at 2 pm ET.

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