U.S. equity futures are trading higher the day after Wall Street hit a record.

The major futures indexes suggest a gain of 0.3% when the opening bell rings.

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The S&P 500 and Nasdaq hits new highs on Thursday as Macy’s and Kohl’s posted strong earnings and unemployment data showed the labor market is continuing to recover.

MACY’S SALES SURGE 36%

Macy’s Inc. surged 21.2% after the department store chain beat profit forecasts.

A busy week of retail earnings wraps up with numbers from apparel plays Foot Locker and Buckle before Friday’s opening bell.

UNEMPLOYMENT CLAIMS DROP TO FRESH PANDEMIC LOW

The Labor Department said that the number of Americans applying for unemployment benefits fell for a seventh week to a pandemic low of 268,000.

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 35870.95 -60.10 -0.17%
SP500 S&P 500 4704.54 +15.87 +0.34%
I:COMP NASDAQ COMPOSITE INDEX 15993.71043 +72.14 +0.45%

On Wall Street, the S&P 500 rose to 4,704.54 while the Dow Jones Industrial Average slipped 0.2% to 35,870.95. The Nasdaq composite gained 0.5% to 15,993.71.

The vote on President Biden’s $1.75 trillion social spending bill was delayed until Friday in the House of Representatives, after Republican House Minority Leader Kevin McCarthy gave an hours-long speech.

JAPAN PROPOSES RECORD STIMULUS PACKAGE TO FIX AILING ECONOMY

On Friday, Japan is making a major stimulus move to jumpstart that country’s economy which has been weakened by the coronavirus pandemic. Japan’s prime minister outlined Friday a record 56 trillion yen, or $490 billion stimulus package, including cash handouts and aid to ailing businesses.

Japan’s government reported October consumer inflation eased to 0.1% over a year earlier from the previous month’s 0.2%.

In Asia, the Nikkei 225 in Tokyo gained 0.5%, the Hang Seng in Hong Kong sank 1.1% and China’s Shanghai Composite Index rose 1.1%.

In Europe, London’s FTSE rose 0.4%, Germany’s DAX added 0.3% and France’s CAC gained 0.5%.

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In energy markets, benchmark U.S. crude rose 55 cents to $79.56 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, used as the price basis for international oils, gained 50 cents to $81.74 per barrel in London.

The Associated Press contributed to this report.