Nasdaq 100 futures jump above 18k and jobless claims data eases recession fears

The reaction across the US equity futures to the better than forecast weekly claims data has been quite dramatic and that is because the data has helped to assuage fears of an imminent US recession. To be honest though this is actually quite daft and that cannot possibly make sense on the back of just one weekly claims number. However, the robots have been let loose out in the park right now and overreactions are commonplace this week. The upshot is the the Nasdaq 100 futures are now nearly 200 points above where they were before the data hit the screens, currently indicating a reopening at around 18,065