The equity markets continued to rebound on Wednesday on rising hopes that Congress will shortly pass the following fiscal stimulus round. Included in the $1.9 trillion price ticket is an extra round of stimulus money worth $5600 to a family of four. While much of the bill is on COVID-19 relief, the CBO states at least half the spending will get completed until the crisis will pass. In COVID news, the number of daily new cases proceeds to trend lower. It is presently at the lowest levels since the spring of 2020.
Traders on Thursday should be on signal for the newest read on jobless claims. Experts expect that the number of new unemployment claims will decline again and surpass the analysts’ estimates. Hiring should spike over the next few weeks to two months as businesses prepare for spring and eagerly anticipate reopening.