National
US stock futures up Wednesday after a rough start to Q2 for Wall Street
US stock futures were up Wednesday following a rough start to the second quarter for Wall Street.
Dow futures rose 155 points, or around 0.8%. S&P 500 futures climbed about 0.8% and Nasdaq futures were up 0.7%.
Stocks finished in the red for the second day in a row Wednesday. All three indexes closed down 4.4%.
The decline comes ahead of Thursday’s jobless claims report, which is expected to be even worse than last week’s record breaking number. Economists expect that 3.5 million people filed for unemployment benefits for the first time last week, according to the Refinitiv consensus estimate. Bank of America, Merrill Lynch and Barclays expect that number will be 5 million people or higher.
Meanwhile, the oil market continues to suffer. On Wednesday, Whiting Petroleum became the first major oil producer to file for bankruptcy since oil prices sank to 18-year lows. Others are likely to follow.
The-CNN-Wire
By: NBC Palm Springs
April 1, 2020
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