US STOCKS-Futures dip ahead of jobless claims, business activity data

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* Futures off: Dow 0.27%, S&P 0.13%, Nasdaq 0.23%

By Shreyashi Sanyal
April 23 (Reuters) - U.S. stock index futures retreated on
Thursday as investors braced for another staggering jobless
claims report and an expected plunge in business activity data
as sweeping lockdown measures hammer economic growth.
Wall Street jumped on Wednesday on a recovery in oil prices
and signs Congress was readying nearly $500 billion more in
relief for small businesses and hospitals. The bill is expected
to clear the House of Representatives later in the day.
Still, the benchmark S&P 500 index .SPX is 17% below its
February record high as statewide shutdowns sparked layoffs and
crushed consumer spending. Surveys on U.S. manufacturing and
services firms are likely to mirror dismal readings from Asia
and Europe issued earlier on Thursday. Data is also likely to show a record 26 million Americans
sought unemployment benefits over the last five weeks,
confirming that all the jobs created during the longest
employment boom in U.S. history were wiped out in about a month.
At 06:40 a.m. EDT, Dow e-minis 1YMcv1 were down 62 points,
or 0.27%, S&P 500 e-minis EScv1 were down 3.75 points, or
0.13% and Nasdaq 100 e-minis NQcv1 were down 21.25 points, or
0.23%.
Retailer Target Corp TGT.N rose 1.3% in premarket trading
after a surge in digital sales in March and April offset a slump
in-store sales. Eli Lilly and Co LLY.N gained 1.5% as it reported a jump
in first-quarter sales, boosted by its diabetes drug and also
benefiting from customers stockpiling its medicines during the
pandemic. Among other companies reporting on Thursday are pizza chain
Domino's DPZ.N and chipmaker Intel Corp INTC.O .
SPDR S&P 500 ETFs SPY.P were down 0.13%.
The S&P 500 closed up 2.29% at 2,799.31​ on Wednesday.