Stock futures drop on continuing virus concern, jump in jobless claims
A pedestrian passes in front of the New York Stock Exchange (NYSE) in New York, U.S., on Wednesday, June 3, 2020.
Michael Nagle | Bloomberg | Getty Images
Stocks futures were under pressure again on Thursday following the release of disappointing unemployment data while traders grappled with a rising number of coronavirus cases.
Futures on the Dow Jones Industrial Average dropped 174 points, or 0.7%. S&P 500 futures slid 0.6% and Nasdaq-100 futures lost 0.1%.
An additional 1.48 million Americans filed for unemployment benefits last week, the Labor Department said. Economists polled by Dow Jones expected a print of 1.35 million. This marks the second straight week that U.S. jobless claims data were worse than expected.
Futures fell to their morning lows after the data were released. However, they quickly recovered from those levels as continuing claims fell by more than 700,000 …continued .
[Source: CNBC News]