Stock futures fell Thursday morning, adding to losses from the regular session a day earlier. A report showed new weekly unemployment insurance claims were higher than expected last week, with the level down just slightly from the prior week.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The S&amp;P 500 and Dow snapped a three-day winning streak by market close Wednesday, with concerns over a jump in coronavirus cases in some major states contributing to declines. However, big tech shares continued to climb and added to their run of outperformance, despite increasing scrutiny from regulators in the U.S. and Europe. Apple’s (AAPL) stock climbed to an all-time intraday high, but steadied near the flat line during pre-market trading.” data-reactid=”17″>The S&P 500 and Dow snapped a three-day winning streak by market close Wednesday, with concerns over a jump in coronavirus cases in some major states contributing to declines. However, big tech shares continued to climb and added to their run of outperformance, despite increasing scrutiny from regulators in the U.S. and Europe. Apple’s (AAPL) stock climbed to an all-time intraday high, but steadied near the flat line during pre-market trading.

Travel and leisure stocks including airlines and cruise lines dropped in early trading and pointed to another day of declines, with increases in new coronavirus cases threatening a smooth reopening process. New cases in Florida jumped to the highest level since the pandemic began, and Texas’s hospitalization rate surged by the most since the beginning of the month. Other states including Arizona, Nevada and Oregon also saw spikes in cases as of Wednesday’s counts, as regions struggled to keep infection rates down with reopenings under way.

Meanwhile, New York City – one of the regions that had been under stay in place orders the longest – signaled it would press ahead with the next phase of its reopening process next week, allowing for outdoor dining and salons to open their doors as the statewide daily infection and death rates fell below 1%.

With virtually every U.S. state now in the process of allowing businesses to reopen, new economic data has begun to reflect a recovery from April’s lows. Wednesday’s batch of economic data showed a strong rebound in the housing market, with mortgage applications for home purchases at a more than 11-year high as of last week. New-home building and building permits for the month of May also rose over April, albeit at a slower pace than consensus economists had expected.

8:30 a.m. ET: Initial jobless claims totaled 1.508 million last week, coming in higher than expected

Weekly unemployment insurance claims ticked down to 1.508 million for the week ended June 13, the Labor Department said Thursday. This was above consensus expectations for claims to fall to 1.29 million for the week, according to Bloomberg data. The prior week’s new claims were upwardly revised to 1.566 million.

Continuing unemployment claims also fell by a less than expected margin for the week ended June 6. Those ticked down to 20.544 million, from the downwardly revised 20.606 million from the prior week. Consensus economists expected continuing claims to dip below the 20 million mark.

7:24 a.m. ET Thursday: Stock futures extend losses

Here were the main moves in markets, as of 7:24 a.m. ET:

  • S&P 500 futures (ES=F): 3,106.5, down 11.5 points or 0.37%

  • Dow futures (YM=F): 26,052.00, down 98 points, or 0.37%

  • Nasdaq futures (NQ=F): 9,987.75, down 6.75 points, or 0.07%

  • Crude (CL=F): +$0.32 (+0.84%) to $38.28 a barrel

  • Gold (GC=F): -$4.90 (-0.28%) to $1,730.70 per ounce

  • 10-year Treasury (^TNX): -2.1 bps to yield 0.712%

6:05 p.m. ET Wednesday: Stock futures open lower

Here were the main moves at the start of the overnight session for U.S. equity futures, as of 6:05 p.m. ET:

  • S&P 500 futures (ES=F): 3,113.75, down 4.25 points or 0.14%

  • Dow futures (YM=F): 26,118.00, down 32 points, or 0.12%

  • Nasdaq futures (NQ=F): 9,990.75, down 3.75 points, or 0.04%

Traders wearing masks arrive before the opening bell at the New York Stock Exchange (NYSE) on May 26, 2020 on Wall Street in New York City. - Global stock markets climbed Monday, buoyed by the prospect of further easing of coronavirus lockdowns despite sharp increases in case rates in some countries such as Brazil. Over the weekend, US President Donald Trump imposed travel limits on Brazil, now the second worst affected country after the United States, reminding markets that while the coronavirus outlook is better, the crisis is far from over. (Photo by Johannes EISELE / AFP) (Photo by JOHANNES EISELE/AFP via Getty Images)Traders wearing masks arrive before the opening bell at the New York Stock Exchange (NYSE) on May 26, 2020 on Wall Street in New York City. - Global stock markets climbed Monday, buoyed by the prospect of further easing of coronavirus lockdowns despite sharp increases in case rates in some countries such as Brazil. Over the weekend, US President Donald Trump imposed travel limits on Brazil, now the second worst affected country after the United States, reminding markets that while the coronavirus outlook is better, the crisis is far from over. (Photo by Johannes EISELE / AFP) (Photo by JOHANNES EISELE/AFP via Getty Images)
Traders wearing masks arrive before the opening bell at the New York Stock Exchange (NYSE) on May 26, 2020 on Wall Street in New York City. – Global stock markets climbed Monday, buoyed by the prospect of further easing of coronavirus lockdowns despite sharp increases in case rates in some countries such as Brazil. Over the weekend, US President Donald Trump imposed travel limits on Brazil, now the second worst affected country after the United States, reminding markets that while the coronavirus outlook is better, the crisis is far from over. (Photo by Johannes EISELE / AFP) (Photo by JOHANNES EISELE/AFP via Getty Images)

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