US STOCKS-Dow, S&P futures drop as COVID-19 cases surge; tech stocks inch higher

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window.)
* Airlines, cruise line operators slip as virus cases spiral
* Moderna rises as it closes in on vaccine data release
* Jobless claims dip in latest week
* Futures: Dow down 0.8%, S&P slip 0.4%, Nasdaq up 0.2%

(Adds comment, details; updates prices)
By Medha Singh and Shivani Kumaresan
Nov 12 (Reuters) - Futures tracking the S&P 500 and Dow fell
on Thursday as U.S. coronavirus infections surged and investors
weighed the timeline of the roll-out of an effective vaccine,
while some heavyweight technology stocks headed higher for the
second straight day.
New York became the latest state to introduce social
distancing restrictions on Wednesday, as new coronavirus cases
in the United States surged above 100,000 for an eighth
consecutive day. Futures for the blue-chip Dow 1YMcv1 slipped 0.8% as
industrial and financial companies sensitive to economic growth
fell, with Boeing Co BA.N and JPMorgan Chase & Co JPM.N down
about 2% each.
American Airlines Group Inc AAL.O , United Airlines
Holdings Inc UAL.O and Royal Caribbean Cruises Ltd RCL.N ,
among the hardest hit by the outbreak, fell between 1.7% and
4.2%.
"With several of the early November catalysts out of the
way, the market does appear to be expressing concern with some
of the near-term COVID trends," said Yousef Abbasi, global
market strategist at StoneX Group Inc in New York.
Wall Street's three main indexes have climbed between 8% and
11% in less than two weeks on prospects of measured industry
regulation from a potentially divided Congress, as well as an
encouraging update from a late-stage coronavirus vaccine trial.
Meanwhile, a Labor Department report showed U.S. jobless
claims fell to a seven-month low last week, but the pace of job
recovery slowed as fiscal stimulus waned. Amazon.com Inc AMZN.O , Netflix Inc NFLX.O and Microsoft
Corp MSFT.O edged higher in premarket trading, set to add to
gains from the previous session.
These companies, which have logged strong demand in the
work-from-home environment, fell sharply earlier this week as
investors rotated to value stocks on hopes of a faster economic
rebound following positive vaccine data.
At 08:32 a.m. ET, Dow E-minis 1YMcv1 were down 0.84% and
S&P 500 E-minis EScv1 were down 0.43%. Nasdaq 100 E-minis
NQcv1 were up 0.16%.
Moderna Inc MRNA.O added 3.4% after the drugmaker said it
had enough data for a first interim analysis of the late-stage
trial of its experimental COVID-19 vaccine. It did not say when
it plans to release the data. After markets close, Walt Disney Co DIS.N and networking
gear maker Cisco Systems Inc CSCO.O are slated to report
results.