5 Things to Know

5 things to know before the stock market opens Thursday

1. U.S. stock futures trim losses after better-than-expected jobless data

U.S. stock futures trimmed losses Thursday after the government reported better-than-expected data for jobless claims. Dow Jones Industrial Average futures dipped 86 points, or 0.3%. S&P 500 futures also were down 0.2% while Nasdaq 100 futures were down by 0.2%. The government's weekly jobless report said 1.186 million people filed new claims for unemployment compensation last week. Economists expected 1.423 million. The report, along with Thursday's market moves, came a day after the major stock averages posted solid gains, with the S&P 500 less than 2% from its record high.

2. White House threatens executive action on coronavirus relief

The Trump administration threatened on Wednesday the use of executive action to provide coronavirus relief as negotiations still haven't led to a deal. "If Congress can't get it done, the president of the United States will," White House chief of staff Mark Meadows told CNN. One of the key issues keeping both sides from reaching a deal is the extension of a weekly unemployment benefit that expired last week. Democrats want to extend the benefit at the original $600-per-week rate while Republicans argue that's a disincentive for people to go back to work.

Mark Meadows, White House chief of staff, right, and Steven Mnuchin, U.S. Treasury secretary, speak to members of the media following a meeting at the U.S. Capitol in Washington, D.C., on Saturday, Aug. 1, 2020.
Stefani Reynolds | Bloomberg | Getty Images

3. China: We have no intention of 'becoming another United States'

China's top diplomat, Wang Yi, called out the U.S., saying it is trying to start a cold war between the world's largest economies that would plunge the world into "chaos and division." In an interview with state media Xinhua News Agency, Wang said: "We have no intention of becoming another United States. China does not export ideology, and never interferes in other countries' internal affairs." Tensions between both countries has been rising recently, as the U.S. criticizes China's handling of the initial coronavirus outbreak.

Chinese and U.S. national flags flutter at the entrance of a company office building in Beijing.
Wang Zhao | AFP | Getty Images

4. Jeff Bezos sells more than $3 billion in Amazon stock

Securities and Exchange Commission filings showed Amazon CEO Jeff Bezos sold more than $3 billion in his company's stock this week. The sale was part of a prearranged trading plan, the filings said. This week's sale brings Bezos' total cash out of the company for 2020 to more than $7.2 billion.

Amazon CEO Jeff Bezos announces the co-founding of The Climate Pledge at the National Press Club on September 19, 2019, in Washington.
Paul Morigi | Getty Images | Amazon

5. Quicken Loans parent IPO priced below target range

The parent company of Quicken Loans, Rocket Cos., said its initial public offering was priced at $18 per share. That's below a target range of $20 per share to $22 per share. The stock is expected to trade on the New York Stock Exchange on Thursday under the ticker RKT.

Jay Farner, CEO, Quicken Loans
Scott Mlyn | CNBC