Microvast Holdings announces departure of chief financial officer
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* Futures down: Dow 0.31%, S&P 0.29%, Nasdaq 0.12%
By Medha Singh
Aug 20 (Reuters) - U.S. stock index futures fell on Thursday
as investors cautiously awaited the weekly jobless claims
report, a day after the Federal Reserve signaled an arduous
recovery for the world's largest economy.
The S&P 500 and the Nasdaq retreated from their peaks on
Wednesday after minutes from the Fed's latest policy meeting
showed the labor market's swift rebound in May and June had
likely slowed and policymakers would stick with aggressive
stimulus measures for a much longer period. Data from the Labor Department, due at 8:30 a.m. ET (1230
GMT), is expected to show the number of Americans seeking
jobless benefits dipped to 925,000 in the week ended Aug. 15.
Despite signs that parts of the economy were still far away
from pre-pandemic levels, the benchmark S&P 500 index completed
its fastest recovery from a bear market this week, joining the
Nasdaq in scaling new peaks.
Unprecedented fiscal and monetary support and gains in
heavyweight technology companies have helped Wall Street's main
indexes dramatically recover from their March trough. Still, the
Dow is more than 6% below its February high.
At 6:22 a.m. ET, Dow e-minis 1YMcv1 were down 86 points,
or 0.31%, S&P 500 e-minis EScv1 were down 9.75 points, or
0.29% and Nasdaq 100 e-minis NQcv1 were down 13.25 points, or
0.12%.
Among early movers, Nvidia Corp NVDA.O slipped 1.1% in
premarket trade after results from the data center business of
the rising semiconductor industry star disappointed some
investors. Intel Corp INTC.O rose 3.9% after announcing a $10-billion
share buyback plan.
L Brands Inc LB.N rose 1.3% after reporting a surprise
quarterly profit, boosted by strong demand for Bath & Body
Works' products as well as higher online sales of Victoria's
Secret lingerie.