U.S. stock index futures were trading flat on Thursday after the benchmark S&P 500 ended the previous session points below its record high close, as political wrangling over domestic stimulus measures kept investors on tenterhooks.
Attention is now on weekly U.S. jobless claims data, due at 8:30 ET , which is expected to show the number of Americans filing for state unemployment benefits dipped slightly from the prior week, although the labor market continues to struggle due to the pandemic.Last week, the government's July jobs report showed the economy has regained only 9.3 million of the 22 million jobs lost between February and April.
While Wall Street has recovered most of the trillions lost during the height of the coronavirus pandemic, thanks to unprecedented stimulus and a better-than-feared earnings season, the economy has a long road to its pre-pandemic size. Among individual movers, Cisco Systems Inc dropped 5.8per cent premarket after forecasting first-quarter revenue and profit below Wall Street estimates and laying out a restructuring plan.
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