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The
Labor Department's report, due at 8:30 a.m. ET, is likely to
show 840,000 Americans filed for unemployment benefits in the
week ended Sept. 19. Although down slightly from 860,000 in the
previous week, it would still signal a cooling in the labor
market's rebound.
Wall Street's main indexes have stumbled this month, with the
S&P 500 hovering just above correction territory on waning hopes
of more fiscal stimulus, signs of choppy economic growth and a
sell-off in heavyweight technology-related names.
The Nasdaq entered correction territory earlier this month, but
the blue-chip Dow has outperformed its peers on demand for
value-linked stocks such as industrials.
At 6:55 a.m. ET, Dow e-minis were up 47 points, or 0.18%, S&P
500 e-minis were up 4.25 points, or 0.13%, and Nasdaq 100
e-minis were down 11.75 points, or 0.11%
Apple Inc, Amazon.com Inc, Netflix Inc and Google-parent
Alphabet Inc, which have led a Wall Street rally since April,
edged lower in premarket trading.
A 4% slide put Tesla Inc on course for its third straight day of
declines following an underwhelming "Battery Day" presentation
by Chief Executive Officer Elon Musk.
Big banks including Goldman Sachs Group Inc, Wells Fargo & Co
and JPMorgan Chase & Co gained between 0.8% and 1.6%.
U.S.-listed shares of Tencent Music Entertainment Group rose
1.5% as Jefferies forecast encouraging revenue growth in the
third quarter and solid momentum in subscription for the
China-based music streaming company.
Nikola Corp, which is set for one of its biggest weekly declines
ever, tumbled another 7.8% as Wedbush downgraded the stock to "underperform".
(Reporting by Sagarika Jaisinghani and Devik Jain in Bengaluru;
Editing by Arun Koyyur)
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