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The
S&P 500 index <.SPX> was set for its third straight session of
losses, retreating further from an all-time high hit on Monday
after positive data was released on a coronavirus vaccine.
The U.S. death toll from COVID-19 surpassed a grim new milestone
of 250,000 on Wednesday as New York City's schools called a halt
to in-classroom instruction, the latest in restrictions to curb
the spread of the virus.
While trillions of dollars in stimulus and optimism around a
vaccine have driven Wall Street to record highs following a
coronavirus-driven crash in March, investors are wary of the
near-term damage caused by tightening restrictions and in the
absence of fresh stimulus measures.
All eyes will be on the Labor Department's weekly jobless claims
data due at 8:30 a.m. ET. Claims are expected to edge down to
707,000 in the week ended Nov. 14, from 709,000 in the week
before.
At 6:56 a.m. ET, Dow e-minis <1YMcv1> were down 68 points, or
0.23%, S&P 500 e-minis <EScv1> were down 6.5 points, or 0.18%,
and Nasdaq 100 e-minis <NQcv1> were down 36.5 points, or 0.31%.
L Brands Inc <LB.N> surged 16.1% premarket after posting
better-than-expected quarterly results, helped by record sales
growth at Bath & Body Works and higher demand for Victoria's
Secret lingerie.
Department store operator Macy's Inc <M.N> fell 4% after it
reported a more than 20% fall in third-quarter comparable sales.
Nvidia Corp <NVDA.O> slipped 1.3% after company executives said
data center chip sales would fall slightly in the fourth
quarter.
(Reporting by Sruthi Shankar and Shivani Kumaresan in Bengaluru;
Editing by Shounak Dasgupta)
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