U.S. stock futures are trading lower today before commentary from Jerome Powell, the Federal Reserve Chief, on the state of the economy and monetary policy. The major indexes are trading near all-time highs as e-traders see the economy rebounding and better than expected earnings from the corporate sector. However, some analysts are warning that stocks will struggle in the coming months because of the new increase in Covid-19 infections and the impact of global re-openings. U.S. jobless claims released today checked in at 360,000 a drop of 26,000. This is the lowest number since the pandemic started and a great indicator that the economy and job markets are quickly rebounding. The impressive jobs number also saw the 10-year treasury yield drop to 1.32%.
Support today is 435000 and 433500 with resistance checking in at 438500 and 440500.