Stock index futures pointed to a positive start for the new quarter. Stocks finished yesterday slightly lower, but still ended the quarter with gains. The S&P 500 climbed 4.9%, the tech-heavy Nasdaq gained 5.7%, and the Russell 2000 small cap index surged 8.5%.
Fewer Americans filed claims for jobless benefits last week, bringing the average over the past month to the lowest level since 2008. Initial jobless claims declined by 6,000 to 439,000. Continuing claims also came down.
We will get more information on the labor markets with tomorrow’s widely watched March jobs report. Ahead of that, we will get the ISM’s monthly manufacturing index, which is expected to rise, and a construction spending report for February, which is expected to decline. The markets are closed tomorrow.
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