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Johannes Eisele | AFP | Getty Images7:45 am: Stock futures point to strong finish to robust week
Futures contracts tied to the major U.S. stock indexes suggested another rally to finish an otherwise robust week on Wall Street. Dow futures rose 350 points, indicating an opening gain of 340 points or 1.3%. S&P 500 futures implied a 0.8% climb while Nasdaq-100 futures suggested an advance of 0.35%. —Unemployment likely hit its worst level since the Great Depression era in May, with the only question being just how bad things got.
On Thursday, the Nasdaq-100 rose to an all-time intraday high, thereby erasing all of its coronavirus-induced losses, before reversing gains and closing modestly lower. Still, it was the first index to reach a new record since the pandemic began. Tech shares have continued to lead the market higher, and the Nasdaq Composite is now roughly 2% below its record high. The S&P 500 and Dow are 8.3% and 11.1% below their highs, respectively.
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