U.S. stock futures gain ahead of critical jobs report for June

02.07.2020 - Petr Mazaylo
U.S. stock futures gain ahead of critical jobs report for June

U.S. stock index futures rose on Thursday, ahead of the much-awaited jobs report that could signal further evidence of an economic rebound in June. However, gains remained limited by the record surge in daily COVID-19 cases.

Dow e-minis gained 0.92% (235 points) at 6:39 AM ET, while S&P 500 e-minis jumped by 0.62% (19.25 points). NASDAQ e-minis gained 0.38%, or 39 points.

Tourism-sensitive stocks were among the biggest gainers in premarket trade, with Cruise line operators such as Carnival Corp, Royal Caribbean Cruises Ltd, and Norwegian Cruise Line Holdings Ltd all gaining between 3% and 4%.

Economically-sensitive stocks such as Morgan Stanley, Goldman Sachs, Citigroup Inc, JPMorgan Chase, and Bank of America Corp all rose between 1% and 3%.

3Q earnings for companies in the S&P index are expected to fall by 25%, compared to April’s projections of a 2.7% drop, according to IBES data from Refinitiv. Its 2Q earnings are forecast to have plunged 43%.

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