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S+P 500 futures above 5,300 ahead of US data releases today

There are a couple of quite important US data releases due out today at 12.30pm GMT. Those are the latest weekly jobless claims and the May Philadelphia Fed business index. That is expected to come in with a lower reading of around 8, compared to 15.5 last time. The jobless claims numbers will be very much in focus too, given the rise seen last week. The markets expect a number around 220k. The markets were surprised last week, when those claims unexpectedly rose to 231k, from 210k. The dollar will for sure be paying close attention to that data this afternoon. Meantime, over in the equity space, the broadest measure of US stock market performance saw the S+P 500 rise to a new all time high yesterday, at 5,311.76. The extension through the previous record high at 5,264 was clear to see. The S+P 500 closed last night at 5,308.15, with a gain of 61 points. Right now the futures price is indicating a potential new all time high on the opening today and of course these data releases will precede that. So, it is possible to have an impact either way on that opening outlook before live trading resumes

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