1 min read.Updated: 29 Oct 2020, 07:39 PM ISTMedha Singh,Shivani Kumaresan, Reuters
Wall Street stocks were mostly higher early Thursday as investors weighed better US economic data against worries
A separate set of data showed weekly unemployment claims fell more than expected in the latest week
The S&P 500 and Nasdaq were set to open higher on Thursday after data showed domestic economy grew at an unrivaled pace in the third quarter as the government poured out more than $3 trillion worth of pandemic relief.
A separate set of data showed weekly unemployment claims fell more than expected in the latest week.
The CBOE volatility index, however, hovered at a 15-week high as the White House coronavirus task force urged for aggressive measures to curb the spread of the disease and on anxiety over the outcome of the Nov. 3 presidential election.
Democratic challenger Joe Biden holds a comfortable lead over President Donald Trump in national polls, but the race in battleground states that will likely decide the election are tighter than the national surveys.
Stalled efforts in Washington over fresh stimulus and an alarming rise in COVID-19 cases globally have put Wall Street's main indexes on course for their worst week since March.
"People are worried that the shutdown in Europe is going to spread to the United States although I think the chances of another national shutdown are extremely low," said Robert Pavlik, senior portfolio manager in New York.
At 8:46 a.m. ET, Dow e-minis were down 19 points, or 0.07% and S&P 500 e-minis were up 6 points, or 0.18%.
Nasdaq 100 e-minis were up 63.75 points, or 0.57% as heavyweights Apple Inc, Amazon.com Inc and Alphabet Inc rose about 1% in premarket trading ahead of their results after the closing bell.