Stock Market Update
06-Aug-26 09:02 ET
Futures point to mixed open as tech faces pressure after earnings
Market is Closed
[BRIEFING.COM] S&P futures vs fair value: -10.00. Nasdaq futures vs fair value: -286.00.
Equity futures continue to signal a mixed open as the latest batch of earnings reports weighs heavily on select tech names.
Nonfarm business sector labor productivity increased 1.4% in the second quarter (Briefing.com consensus: 0.8%) following an upwardly revised 0.8% increase (from 0.3%) in the first quarter. Unit labor costs were up 1.3% (Briefing.com consensus: 1.7%) following a downwardly revised 1.3% increase (from 1.8%) in the first quarter.
The key takeaway from the report is that rising productivity helped keep labor costs in check.
Initial jobless claims for the week ending August 1 increased by 1,000 to 199,000 (Briefing.com consensus: 200,000). Continuing jobless claims for the week ending July 25 increase by 24,000 to 1.801 million.
The key takeaway from the report, once again, is the extraordinarily low level of initial jobless claims, which reflects an environment in which employers are still reluctant to cut staff. That will be read as a good sign for economic demand.
