Traders working on the New York Stock Exchange (NYSE), May 19, 2021.
Stock futures remained stable on Wednesday as investors waited for new labor market data to gauge the pace of economic recovery.
Dow Jones futures rose just 20 points. The S&P 500 futures and Nasdaq 100 futures were slightly changed.
The transition to futures followed a relatively quiet session on Wall Street. The S&P 500 made 0.2% profit in light trade, aided by gains in stocks related to the reopening of the economy, including airlines and cruise operators. The Blue Dow Dow ended the session on Wednesday changed little, while the technologically heavy Nasdaq Composite gained 0.6%.
Trading is expected to be muted ahead of Remembrance Day weekend.
“Stock markets are quiet as investors continue to look forward to the Fed’s next move,” said Mark Hackett, head of investment research at Nationwide. “Low volatility and low trading volume are common in the week that turns into a holiday.”
Investors are waiting for the latest data on U.S. weekly unemployment claims coming out Thursday morning. Economists polled by Dow Jones expect a total of 425,000 Americans to file for unemployment benefits in the week ending May 22. In the previous week, unemployment claims reached the lowest level of the pandemic of 444,000.