U.S. Markets

Congress is eager to pass the next phase of coronavirus stimulus legislation, but the bipartisan spirit that was present months ago may be frayed as both parties weigh their differences. WSJ’s Gerald F. Seib explains. Photo: Eric Gay/Associated Press

Our call of the day has charted out some highs and lows for the S&P 500 that investors need to watch out for in coming weeks and months. And here’s what could cause a trigger.

U.S. stock index futures were flat late Thursday, ahead of the Fourth of July holiday weekend. As of midnight Eastern, Dow Jones Industrial Average futures were down about 20 points, or 0.1%, while S&P 500 futures and Nasdaq-100 futures were off fractionally. U.S. stock markets will be closed Friday for the Fourth of July. Earlier in the day, stocks finished a choppy trading session with slight gains, as rising coronavirus cases dampened enthusiasm after a positive jobs report. The Dow closed 92.39 points, or 0.4%, higher to finish at 25,827.36, while the S&P 500 index added 14.15 points, or 0.5%, to close at 3,130.01. The Nasdaq Composite Index gained 53 points, or 0.5%, close at 10,207.63, booking its second straight record close.

U.S. stock indexes ended a choppy session Thursday with meager gains to close out a holiday-shortened week, as a record rise in new coronavirus cases in states like Florida helped to erode some of the optimism surrounding a stronger-than-expected monthly employment report for June.

Treasury yields retreat from their session highs Thursday, on haven buying spurred by fears that the U.S. could fail to bring the coronavirus under control and undermine labor gains seen in June’s job report.

U.S. stocks clung to their gains at the end of Thursday after a stronger-than-expected employment report confirmed the labor market's rapid recovery at the end of the second-quarter. Wall Street will be shuttered on Friday in honor of the Independence Day holiday. The S&P 500 gained 0.5% to 3,130. The Dow Jones Industrial Average advanced 92 points, or 0.4%, to end around 25,827, based on preliminary numbers. The Nasdaq Composite added 0.5% to 10,208, booking an all-time closing high for a second straight day. The U.S. added 4.8 million jobs in June compared with expectations for a rise of 3.7 million and the unemployment rate fell for the second straight month to 11.1%. Still, analysts worry the resurgence of new coronavirus cases across the U.S. could hold back further improvements in the broader U.S. economy.

The federal government is being urged by a top real estate group to take an equity stake in U.S. commercial buildings over the next 12 month, through a facility designed to keep borrowers from defaulting during the pandemic and preventing property prices from a downward spiral.

Oil futures rise for a second session on Thursday, logging their highest finish since March, amid support from data showed the biggest weekly U.S. crude supply decline since 2019 and stronger-than-expected domestic job growth in June.