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Investors Mull Whether Tech Rout is Over, Futures Slip

AAPL

U.S. stock futures decreased early Thursday following a rebound that stopped a three-day skid.

Futures for Dow Jones Industrials faded 90 points, or 0.3%, early Thursday, to 27,882.

Futures for the S&P 500 lost six points, or 0.2%, at 3,394.25.

Futures for the NASDAQ Composite poked ahead 37.5 points, or 0.3%, to 11,430.25.

The move in futures follows a broad rally for the market on Wednesday, with the S&P 500 rising 2% for its best day since June. The NASDAQ Composite rose 2.7% to pull itself out of correction territory after a selloff for major tech stocks drove a sharp selloff in three straight sessions.

Some of the stocks hardest hit during the recent slide saw more dramatic pops. Shares of Tesla, fresh off their worst day on record, rose nearly 11%. Tech giant Apple gained 4% to bring its market cap back to $2 trillion.

In pre-market trading Thursday, Tesla gained 1% and Apple was slightly higher.

Investors will be greeted with new economic data on Thursday morning, including the U.S. Labor Department's weekly jobless claims report. Economists surveyed by Dow Jones expect 850,000 new claims, down from 881,000 last week.

Overseas, in Japan, the Nikkei 225 regained 0.9% Thursday, while in Hong Kong, the Hang Seng index fell back 0.9%.

Oil prices skidded 51 cents to $37.54 U.S. a barrel.

Gold prices took on a dollar to $1,955.90.



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