US STOCKS-Futures fall after two-day rally as focus turns to jobless numbers

US STOCKS-Futures fall after two-day rally as focus turns to jobless numbers

Reuters  | Mar 26, 2020 10:48

US STOCKS-Futures fall after two-day rally as focus turns to jobless numbers

(For a live blog on the U.S. stock market, click LIVE/ or
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* Futures down: Dow 1.33%, S&P 1.71%, Nasdaq 1.53%

By Uday Sampath Kumar
March 26 (Reuters) - U.S. stock index futures slipped on
Thursday after a two-day rally as investors braced for what is
expected to be one of the worst U.S. jobless claims reports in
history, underlining the wide-ranging economic damage from the
coronavirus pandemic.
A Reuters poll predicts weekly jobless claims ranging from a
minimum of 250,000 initial claims to up to 4 million. The poll
shows a median forecast of 1 million claims, which would top
highs logged during recessions in 1982 and 2009. The Labor department is expected to release the data at 8:30
a.m. ET.
In an unusual appearance, U.S. Federal Reserve Chairman
Jerome Powell is scheduled to speak on NBC television around
7:00 a.m. ET, which may provide more information about
policymakers' response to the outbreak.
At 05:24 a.m. EDT, Dow e-minis 1YMcv1 were down 282
points, or 1.33%, S&P 500 e-minis EScv1 were down 42.25
points, or 1.71% and Nasdaq 100 e-minis NQcv1 were down 114.25
points, or 1.53%.
SPDR S&P 500 ETFs SPY.P were down 1.69%.
The S&P 500 index .SPX closed up 1.15% at 2,475.56​ on
Wednesday.

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