After weeks of stalemate in talks over a fifth coronavirus
relief bill, a key lawmaker said on Thursday Democrats in the
U.S. House of Representatives were working on a $2.2 trillion
package that could be voted on next week.
United Airlines Holdings Inc, Southwest Airlines Co and Alaska
Air Group Inc were little changed in premarket trading even as
airline unions hoped further aid would be announced before the
current program ends on Oct. 1.
Failure to reach a deal by then would result in another round of
mass furloughs.
A clutch of downbeat macroeconomic data has weighed on Wall
Street in recent weeks, with the S&P 500 on course for its
fourth straight week of declines.
The benchmark index has hovered just above correction territory
with investors oscillating between beaten-down
technology-related shares and value-linked sectors such as
industrials.
Tech mega-caps including Facebook Inc, Alphabet Inc, Amazon.com
Inc, Apple Inc and Netflix Inc headed lower after leading gains
on Wall Street in the previous session.
At 6:25 a.m. ET, Dow e-minis were down 139 points, or 0.52%, S&P
500 e-minis were down 16.25 points, or 0.50%, and Nasdaq 100
e-minis were down 50.75 points, or 0.47%.
The CBOE volatility index, known as Wall Street's fear gauge,
has spiked this week and analysts have warned it could climb
higher toward the end of the quarter next week as well as the
Nov. 3 presidential election.
Costco Wholesale Corp fell 2.5% as the warehouse chain recorded
high coronavirus-related costs for the second straight quarter,
overshadowing its better-than-expected results.
Boeing Co inched higher after Europe's chief aviation safety
regulator said the planemaker's grounded 737 MAX could receive
regulatory approval to resume flying in November and enter
service by the end of the year.
(Reporting by Devik Jain in Bengaluru; Editing by Arun Koyyur)
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