Happy Thursday! Today is August 13th and stock futures trim losses after the jobless claims report fell under the million estimate last week. Manhattan apartments rents plunge and Pelosi rebuffs Mnuchin “overture” with relief talks in limbo. Apple is reportedly creating a new subscription service and Trump is sending 125 million coronavirus masks to schools across the country.
Futures contracts tied to the major U.S. stock indexes edged lower on Wednesday night, hours after the S&P 500 flirted with — but fell just short of — a new record close. Dow Jones Industrial Average futures indicated a lower opening of about 31 points. S&P 500 futures were flat. Nasdaq-100 futures were slightly in the green
First-time claims for unemployment insurance last fell below 1 million for the first time since March 21 in a sign that the labor market is recovering from the coronavirus pandemic.The total claims of 963,000 was well below the estimate of 1.1 million from economists surveyed by Dow Jones.
Manhattan apartment rents plunged last month by the most in nearly nine years. That’s only one sign of weakness for the borough’s leasing market.By almost every measure, the news is dismal for landlords, who are trying to keep units filled amid a global pandemic that’s sparked an urban exodus.
House Speaker Nancy Pelosi said she rebuffed an “overture” from Treasury Secretary Steven Mnuchin to restart talks on a new round of U.S. pandemic relief because the White House hadn’t budged from demands for a smaller stimulus. But Mnuchin said it was Pelosi who refused to compromise, and the negotiations remained in limbo with no sign of the stalemate easing.
Apple is preparing to launch new subscription plans that bundle several of its services together, Bloomberg reported on Thursday. According to the report, Apple plans to package services like Apple TV+, Apple Music, Apple News+, Apple Arcade and iCloud storage into different plans that provide consumers a discount for packaging everything together.Some of Apple’s services have reportedly been off to a slow start, however, like Apple News+. If it’s packaged with a more popular service, say Apple Music, people may be more willing to use it.
President Donald Trump said the federal government is sending 125 million reusable face masks to school districts across the United States as schools consider whether it’s safe to reopen this fall amid the coronavirus pandemic. Whether and how to reopen schools in the U.S. this fall has become a hotbed issue in recent weeks. Last week, New York Gov. Andrew Cuomo announced that all school districts across the state have been authorized to reopen for the fall semester, including New York City, the nation’s largest school district.