Trading Economics-


Stock futures in the US were higher on Thursday, with contracts on both the S&P 500 and the Nasdaq 100 rising 0.6% and the Dow Jones adding around 80 points, as traders digest further corporate results and key economic data. Initial jobless claims rose to 249K last week, the highest level in nearly a year while labour costs rose about half the market forecasts in Q2 and productivity increased. The data added to evidence the labour market continues to cool off, reinforcing bets the Fed will reduce interest rates next month. Yesterday, the Fed hinted that a reduction in borrowing costs is close. On the earnings front, Apple, Amazon and Intel are due to report quarterly results today after the closing bell. Meta rallied 9% in premarket trading on better-than-expected second quarter results and upbeat guidance. Qualcomm on the other hand, was down about 1.7% after the company warned of trade-curb impact.