/Stock Futures Slip Ahead of Jobless Claims, GDP Data – The Wall Street Journal

Stock Futures Slip Ahead of Jobless Claims, GDP Data – The Wall Street Journal


U.S. stocks rose Thursday after a slew of economic data releases that are expected to spur discussion among investors about the Federal Reserve’s response to the strengthening economic recovery.

The S&P 500 rose 0.3%. The Nasdaq Composite hovered around the flat line, and the Dow Jones Industrial Average advanced 0.7%.

Investors will keep a close eye on so-called meme stocks popular with online traders. Shares of AMC Entertainment declined 4.7% and GameStop 5.2% after Wednesday’s fresh bout of trading enthusiasm.

Broader stock indexes have wavered this week as concerns about runaway inflation dwindled and Fed officials signaled that discussions about adjusting the pace of asset purchases may commence in the near future. Investors are closely monitoring indicators of economic activity to try to understand when monetary stimulus could begin to be scaled back.

“We’re trying to understand if there is this bigger-than-life moment for the U.S. economy. It will question what the Fed should do,” said Ludovic Subran, chief economist at Allianz. “The equity market has been in a bit of a wait-and see-mode, waiting for this confirmation.”

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