US STOCKS-Futures drop on sharp rise in virus cases, elevated jobless claims

(For a live blog on the U.S. stock market, click LIVE/ or
type LIVE/ in a news window.)
* Disney slips as theme parks reopening delayed
* Boeing declines after Berenberg downgrade
* Futures down: Dow 0.86%, S&P 0.69%, Nasdaq 0.18%

(Adds comment, details; updates prices)
By Medha Singh and Devik Jain
June 25 (Reuters) - U.S. stock futures slipped further on
Thursday following Wall Street's worst day in two weeks, as
investors were unnerved by an alarming rise in new coronavirus
cases and an elevated weekly jobless claims number.
Data showed about 1.48 million Americans signed up for
unemployment benefits in the last week. The figure came in only
slightly below the 1.5 million in the prior week as weak demand
forced U.S. employers to lay off workers even as businesses
reopened. Walt Disney Co DIS.N slipped 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". "Markets have been pricing in perfection over almost three
months that reopening (businesses) will begin to kickstart the
economy off the lows," said Michael Hans, chief investment
officer at Clarfeld Citizens Private Wealth in Greater New York
City Area.
But the course of the pandemic remains uncertain "and until
we have a little bit more clarity, it's only natural that
markets take a breather here," Hans added.
The resurgence in virus cases across the United States has
revived fears of another lockdown to contain the pandemic and
threatened to halt a Wall Street rally that was powered by a
raft of global stimulus since late March.
After coming within 5% of its record high in early June, the
benchmark S&P 500 has lost nearly 6% in the past two weeks and
analysts cautioned further declines amid worsening economic
forecasts.
The International Monetary Fund on Wednesday warned of a
nearly 5% plunge in the global economic output in 2020.
At 8:39 a.m. ET, Dow e-minis 1YMcv1 were down 218 points,
or 0.86%, S&P 500 e-minis EScv1 were down 21 points, or 0.69%
and Nasdaq 100 e-minis NQcv1 were down 18 points, or 0.18%.
Boeing Co BA.N tumbled 4% as rival Airbus AIR.PA reached
a crucial jetliner production target and smoothed recent
industrial problems. Berenberg also reduced its rating on the U.S. planemaker's
shares to "sell", noting elevated near-term risks linked to the
pandemic, the pace of recovery in air travel and uncertainty
related to production rates. Moderna Inc MRNA.O rose 4% after it signed a partnership
with contract drugmaker Catalent Inc CTLT.N to support
production of 100 million doses of its experimental COVID-19
vaccine.