US equity futures climb to the highs after initial jobless claims

US equity futures were mostly flat overnight but have quickly turned higher following weaker initial jobless claims. The measure rose to 221K compared to 214K expected in a rise to the highest since January.

That’s not much for the bulls to hang their hat on, especially with risks around non-farm payrolls tomorrow but there is some optimism creeping in around inflation and Fed cut pricing is up to 72 bps this year from 68 yesterday.

S&P 500 futures are up 31 points, or 0.7% and at the best levels of the pre-market.

This article was written by Adam Button at www.forexlive.com.