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Stock Futures Climb Pre-Bell as Traders Await Labor Data; Asia, Europe Strong
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Stock Futures Climb Pre-Bell as Traders Await Labor Data; Asia, Europe Strong
Apr 1, 2024 4:23 AM

07:08 AM EDT, 04/01/2024 (MT Newswires) -- The benchmark US stock measures were tracking in the green before the open Monday, as investors look ahead to data on the labor market later in the week.

Standard & Poor's 500 futures rose 0.4%, the Nasdaq added 0.6% and the Dow Jones Industrial Average gained 0.3% in premarket trading. Asian exchanges were mixed and the main European measures were closed for the Easter holiday.

Traders await the Job Openings and Labor Turnover Survey for February on Tuesday, followed by the ADP Employment Report for March on Wednesday. The Challenger Job Cut Report for last month is due Thursday, and the government's nonfarm payrolls will be out on Friday.

On Monday's economic calendar, the March purchasing managers' index for manufacturing from S&P Global is out at 9:45 am ET, followed by the Institute for Supply Management's manufacturing index for the same month at 10 am. The construction spending report for February is also scheduled for a 10 am release. Federal Reserve Governor Lisa Cook is set to speak at 6:50 pm.

Shares of Tesla (TSLA) gained 1.1% pre-bell with the electric vehicle maker expected to disclose its latest delivery numbers this week, according to media reports. Nikola (NKLA) advanced about 13% while Nvidia (NVDA) edged up 0.9%.

Mach Natural Resources (MNR) and Sigma Lithium (SGML) are slated to release quarterly earnings before the bell, among others. PVH (PVH) is scheduled to post results after the markets close.

Before the opening bell, bitcoin declined 2% to $69,570, West Texas Intermediate crude decreased 0.4% to $82.86 a barrel, yields on 10-year Treasuries increased 1.6 basis points to 4.21% and gold inclined 1.4% to $2,270 an ounce.

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