U.S. stock-index futures were trading lower Wednesday night after stocks closed out the regular session with sharp gains, making up some lost ground after a late-session pullback Tuesday. A weekly report on Thursday (Macy's Inc. (M) said it has appointed Felicia Williams ( its interim chief financial officer, effective June 1. Retailer L Brands Inc. (LB) reported a wider-than-expected loss ( ) in the first quarter and said it remained "committed" to spinning off its Bath & Body Works business. Meanwhile, Aurora Cannabis Inc. (ACB.T) it was acquiring U.S. company Reliva LLC ( ) for roughly $40 million in an all-stock deal.) is expected to show that some 2.35 million people sought unemployment benefits in the week ended May 16, likely bringing the total number of Americans out of work during the COVID-19 pandemic to nearly 40 million on a seasonally adjusted basis. That's about one out of every five workers in the labor force. To be sure, the weekly figure represents a deceleration of the recent unsightly trend of job losses, but may still be a sobering reminder of the toll the viral pandemic has exerted on the U.S. economy over the past few months. Futures for the Dow Jones Industrial Average were off 178 points, or 0.7%, at 24,344, those for the S&P 500 index were trading 0.7% lower at 2,948, while Nasdaq-100 futures declined by about 0.5% at 9,439. During the regular session Wednesday, the Dow advanced 369.04 points, or 1.5%, to finish at 24,575.90. The S&P 500 climbed 48.67 points, or 1.7%, to end at 2,971.61, its highest close since March 6, according to Dow Jones Market Data, while the Nasdaq Composite rose 190.67 points, or 2.1%, closing at 9,375.78, representing its highest finish since Feb. 21. In corporate news after-hours,
-Mark DeCambre; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
May 21, 2020 16:53 ET (20:53 GMT)
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