Dow futures down 100, reopening trades lower, jobless claims ahead

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Many of the companies that would benefit most from a quick reopening of the economy saw their equity decline in premarket trading on Thursday. United Airlines dropped by 3{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f}, while American and Delta lost 2.7{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} and 1.8{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} respectively. Cruise stocks were down across the board, with Carnival dropping 6.4{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f}. Shares of retailers, hotel chains and casinos also slipped before the bell. — Pound

The pace of jobless claims filing is expected to continue its decline, though remain at levels the economy has never seen prior to the coronavirus pandemic. Economists surveyed by Dow Jones expect 1.3 million new claims following last week’s total of 1.54 million. Another 1.3 million claims last week would continue the deceleration of weekly filings that peaked at a record 6.9 million in late March. The record prior to the pandemic was 695,000 in September 1982. Most economists are focused on continuing claims, which most recently totaled just shy of 21 million. — Cox

Shares of the bankrupt car rental company slipped 8{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} in premarket trading on Thursday, following Hertz’s announcement Wednesday that it suspended the planned sale of up to $500 million worth of stock. Prior to the announcement, SEC Chairman Jay Clayton told CNBC that the regulator has issues with the company’s plan to sell stock while it pursues bankruptcy protection. Retail investors have been piling into Hertz and other bankrupt names to try to get a piece of the market’s comeback. The issue is that equity investors are behind bondholders and other creditors in a bankruptcy and will likely lose their money. — Fitzgerald

Futures contracts tied to the major U.S. stock indexes pointed to a lower open Thursday morning. Dow futures fell 140 points, suggesting an opening decline of about 100 points. S&P 500 futures pointed to a similar, 0.3{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} decline while Nasdaq-100 futures suggested little change at the open. The S&P 500 and Dow Jones Industrial Average both snapped multiday winning streaks on Wednesday but remain firmly higher for the week, up 2.3{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} and 2{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f}, respectively. — Franck

— CNBC’s Jeff Cox contributed to this report.

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