Premarket: S&P 500 Futures Pare Losses Jobless Claims Above 1M For One More Week

S&P 500 futures are trading lower on Thursday as investors fear about the second wave of coronavirus infection, sending risky assets lower for the second day. On the economic data, the Jobless claims totalled 1.48 million the previous week as unemployment remains high amid the coronavirus lockdown. The forecasts were for 1.35 million jobless claims. The claims remained above 1 million for the 14th straight week. The Continuing Jobless Claims came in at 19.52 million below the expectations of 19.96 million on June 12.

The Durable Goods Orders registered in at 15.8% above the estimates of 10.9% in May, excluding the Transportation Durable goods came in at 4% above the expectations of 2.5%.
The third reading for the first quarter GDP came at -5% in line with expectations. The Core Personal Consumption Expenditures for the first quarter came in at 1.7% topping the expectations of 1.6%.

The S&P 500 futures are 0.88% lower at 3,022. The Dow Jones futures are 1.10% higher at 25,114, while the Nasdaq futures are 0.22% lower at 9,985.

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European Markets Pare Losses

European markets are trading lower but off the daily lows as the sentiment improved ahead of the US opening. The Dax index is 0.01% lower at 12,097 as the Wirecard continue with heavy losses. The CAC 40 index is 0.06% higher at 4,874. In London, the FTSE 100 is 0.35% lower at 6,102. 

Crude Oil Price Lower for Second Day   

Crude oil traded lower for the second consecutive day amid rising fears of a second coronavirus infection wave that might halt the reopening process. WTI crude oil futures trade 1.21% lower at 37.65 while the Brent crude oil is 0.64% lower at $40.80.  

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