Stock futures rose in the early morning as optimism over economic recovery grows following strong labor market data.
Futures for the Dow Jones Industrial Average gained 170 points. S&P 500 futures and Nasdaq-100 futures also traded in positive territory.
Salesforce.com Inc. shares rose roughly 4.2% in the extended session Thursday after the cloud-based customer-relationship management company topped Wall Street estimates and raised its outlook for the year. HP shares fell almost 6% even though the company reported a 27% year-over-year rise in revenue and beat on both the top and bottom line.
The Dow Jones Industrial Average climbed 141.59 points in Wednesday regular trading, while the S&P 500 edged 0.1% higher. The Nasdaq Composite closed flat.
Shares of Boeing gained nearly 4% amid optimism about the recovery economy. First-time jobless claims fell to a new pandemic low of 406,000, according to Labor Department data.
AMC surged as much as 47% Thursday and ended the session 35.6% higher at $26.52, pushing its week-to-date advance to nearly 120%. Shares of the movie-theater chain closed 35.6% higher while another meme stock, GameStop, gained 4.8%.
The major indexes are on track to close higher this week. The S&P 500 is up 1.08% week to date. The blue-chip Dow is 0.75% higher over the same time period, while the Nasdaq has gained nearly 2%.
The moves higher this week come as investors monitor the back-and-forth in Washington over a comprehensive infrastructure package that could further boost the economic recovery. US Senate Republicans unveiled a new infrastructure offer on May 27 that would spend US$928 billion over eight years to revitalize America’s infrastructure, still well below President Joe Biden’s last proposal.