Although traders credited Wednesday’s optimism for a Covid-19 vaccine developed by Pfizer and BioNTech, Thursday’s multiple employment reports are looming over the holiday weekend.
At the same time, weekly unemployment claims data will also be released on Thursday morning.
Weekly claims data will provide Wall Street with a better idea of the number of people who continue to receive unemployment benefits, a figure known as continuing claims. Last week, the Labor Ministry said that there were still nearly 20 million people receiving state unemployment benefits during the week ended June 20.
Another 1.38 million workers are expected to have filed for unemployment benefits for the first time last week, up from 1.48 million the week before.
– CNBC’s Patti Domm contributed to the report.
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