{"id":33538,"date":"2022-06-02T13:17:01","date_gmt":"2022-06-02T13:17:01","guid":{"rendered":"https:\/\/harchi90.com\/stock-futures-rebound-ahead-of-labor-reports\/"},"modified":"2022-06-02T13:17:01","modified_gmt":"2022-06-02T13:17:01","slug":"stock-futures-rebound-ahead-of-labor-reports","status":"publish","type":"post","link":"https:\/\/harchi90.com\/stock-futures-rebound-ahead-of-labor-reports\/","title":{"rendered":"Stock futures rebound ahead of labor reports"},"content":{"rendered":"
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Slatestone Wealth chief market strategist Kenny Polcari on whether tech firms laying off employees is a precursor to what’s to come amid inflation, the Federal Reserve’s handling of the economy and stagflation.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

US equity futures traded higher Thursday morning as equities rebound from Wednesday’s losses.<\/p>\n

The major futures indexes suggest a gain of 0.3% when the Wall Street session begins.<\/p>\n

GET FOX BUSINESS ON THE GO BY CLICKING HERE<\/u><\/strong><\/p>\n

Oil prices fell by more than $ 2 a barrel ahead of a meeting of OPEC + set for later in the day. Saudi Arabia is reportedly prepared to increase oil production<\/u> if Russia’s output falls substantially under the new sanctions imposed by the European Union, according to the Financial Times.<\/p>\n

US West Texas Intermediate (WTI) crude dropped to around $ 112 a barrel. Brent crude was down to $ 114 a barrel.<\/p>\n

OIL FALLS AS SAUDI ARABIA READY TO PUMP MORE IF RUSSIAN OUTPUT SINKS: REPORT<\/strong><\/p>\n

The countdown to Friday’s release of the monthly jobs report is underway with two labor-related reports on the docket. The payroll processing company ADP will report on private-sector hiring for May. That report was pushed back a day by the Memorial Day holiday. Traders will also get the latest jobless claims as well as productivity.<\/p>\n

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A pair of traders work on the floor of the NYSE.<\/span> (Courtney Crow \/ New York Stock Exchange via AP)<\/span><\/p>\n<\/div>\n<\/div>\n

GameStop shares rose 3% in after-hours trading as sales rose, but its quarterly loss widened. The video game retailer posted on $ 1.38 billion in net sales, up from $ 1.28 billion a year earlier. On an adjusted basis, the retailer reported a loss of $ 2.08 a share, compared with a loss of 45 cents a share over the same period a year ago. <\/p>\n

GAMESTOP SALES CLIMB ALONG WITH SHARES EVEN AS LOSS WIDENS<\/strong><\/p>\n

Other earnings reports are due from Designer Brands, Hormel Foods and Lands’ End before the market open and Broadcom and Lululemon Athletica after the bell.<\/p>\n

Bitcoin traded around $ 30,000 after falling 6% on Wednesday.<\/p>\n