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* Disney slips when theme parks reopen
* Boeing slows after Berenberg downgrade
* Futures down: Dow 0.86%, S&P 0.69%, Nasdaq 0.18% (Add comments, details; update prices)
By Medha Singh and Devik Jain
June 25 (Reuters) – US stock futures fell further on Thursday after the worst Wall Street day in two weeks, as investors were nervous about an alarming surge in new coronavirus cases and a high number of applications. weekly unemployment.
The data showed that approximately 1.48 million Americans signed up to receive unemployment benefits in the past week. The figure was just below 1.5 million the previous week, as weak demand forced American employers to lay off workers even when the companies reopened.
Walt Disney Co fell 2.6% in premarket trading after it delayed the reopening of theme parks due to the health crisis. A report also said the company was considering postponing the July 24 release of “Mulan.”
“The markets have been appreciating for nearly three months that the reopening (companies) will begin to push the economy from lows,” said Michael Hans, chief investment officer for Clarfeld Citizens Private Wealth in the New York metropolitan area.
But the course of the pandemic remains uncertain “and until we get a little more clarity, it’s natural for markets to take a breather here,” added Hans.
The resurgence of virus cases in the United States has rekindled fears of another blockade to contain the pandemic and threatened to halt a Wall Street rally fueled by a series of global stimuli since late March.
After reaching 5% of its all-time high in early June, the benchmark S&P 500 index has lost nearly 6% in the past two weeks, and analysts warned further declines amid worsening economic forecasts.
The International Monetary Fund warned on Wednesday of a nearly 5% drop in global economic output in 2020.
At 8:39 am ET, Dow e-minis were down 218 points, or 0.86%, SP 500 e-minis were down 21 points, or 0.69%, and Nasdaq 100 e-minis were down 18 points, or 0.18%.
Boeing Co fell 4% when rival Airbus hit a crucial aircraft production target and smoothed out recent industrial problems.
Berenberg also downgraded its rating on the US aircraft maker to “sell,” noting high short-term risks related to the pandemic, the pace of recovery in air travel and uncertainty related to production rates.
Moderna Inc rose 4% after signing a partnership with contract drug maker Catalent Inc to support the production of 100 million doses of its experimental COVID-19 vaccine. (Report by Medha Singh and Devik Jain in Bangalore; Arun Koyyur Edition)
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