Economic Indicators

At least 300,000 out-of-work Americans have seen their unemployment benefits cut short during the coronavirus pandemic due to an outdated method that states use to tally jobless claims.

President Biden is reportedly preparing a slate of new tax hikes on wealthy Americans to pay for the second phase of his multitrillion-dollar spending plans.

More than 700,000 Americans who already filed their 2020 tax returns will receive a supplemental stimulus check this week, the IRS said.

Traders will have more earnings reports and economic data to study on the final trading day of the week

As more people get vaccinated against COVID-19, many are starting to feel safe enough to start traveling again. The Las Vegas Strip is already seeing that demand and hotels are needing to hire more staff, and fast.

House lawmakers on Thursday passed legislation targeting the gender pay act, known as the Paycheck Fairness Act, though the bill advanced without the support of Republicans.

A group of moderate Senate Republicans is drafting a scaled-back infrastructure proposal, an opening salvo as they seek to strike a deal with President Biden on a package more narrowly targeted in scope.

A fresh round of stimulus checks and the accelerated rollout of coronavirus vaccines sent retail sales surging in March as American consumers returned to stores and restaurants.

The parade of bank earnings continues Thursday, with Citigroup, Bank of America and U.S. Bancorp posting ahead of the opening bell

The U.S. economic recovery accelerated to a moderate pace from late February to early April as consumers, buoyed by increased COVID-19 vaccinations and strong fiscal support, opened their wallets to spend more on travel and other items, the Federal Reserve said on Wednesday.

Dow members JPMorgan Chase and Goldman Sachs, and financial services giant Wells Fargo earnings are in focus.

Federal Reserve Chairman Jerome Powell warned again that cyber threats are the biggest unknown for the US financial system.

The U.S. budget deficit ballooned to a record $1.7 trillion in the first half of the fiscal year as a third round of stimulus checks included in President Biden's coronavirus relief package sent federal spending skyrocketing.

A majority of the nation's top CEOs agree that President Biden's plan to raise the corporate tax rate in order to pay for his nearly $2.3 trillion spending proposal will hurt business competitiveness and slow wage growth.

Economists expect growth to slow to 3.2% next year, which would still make 2021-22 the strongest two-year performance since 2005.

The S&P 500 starts the day after hitting a new high on Thursday

Jobless claims are estimated to come in at 680,000, down from 719,000 the prior week

The IRS sent out a fourth batch of stimulus checks this week, delivering payments to another 25 million Americans as part of President Biden's $1.9 trillion American Rescue Plan.

President Biden on Wednesday said he is willing to lower the proposed corporate tax increase included in his nearly $2.3 trillion spending proposal amid pushback from Republicans and some moderate Democrats.

The IRS said Wednesday that has delivered stimulus checks to millions of Social Security recipients and other lower-income Americans in the third round of payments under President Biden's American Rescue Plan.