Stock Futures Dinged by Jobless Claims

Dow Jones Industrial Average (DJI) futures are eyeing a modest move below fair value this morning. The latest batch of weekly jobless claims is weighing on Wall Street, with the 3.8 million unemployment filings toppling the 3.5 million estimate. The ugly numbers --a seventh straight week surpassing analyst estimates -- are overshadowing the latest corporate reports from the likes of McDonald's (MCD) and Microsoft (MSFT). Futures on the Nasdaq-100 Index (NDX) and S&P 500 Index (SPX) are drifting lower as well, despite FAANG giant Facebook (FB) reporting a first-quarter earnings beat thanks to stabilizing ad revenue. 

Continue reading for more on today's market, including: 

• Options bulls flocked to Gilead Sciences stock yesterday.
• Facebook stock was rallying even before its quarterly report.
• Plus, AstraZeneca teams up with Oxford University; Twitter daily active users soar; and Dunkin' dinged by sales numbers.

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw 1.5 million call contracts traded on Wednesday, and 827,011 put contracts. The single-session equity put/call ratio slipped to 0.53, and the 21-day moving average fell to 0.65.
2. AstraZeneca plc (NYSE:AZN) stock is up 4.6% ahead of the bell, after the United Kingdom-based drugmaker reached an agreement with Oxford University to work on a coronavirus vaccine. AstraZeneca's CEO said the company should know by June or July if the vaccine works. AZN is up 13% this quarter, and hit a record high of $52.29 on Tuesday.
3. Twitter Inc (NYSE:TWTR) stock is down 6.5% before the open, despite the social media stalwart reporting first-quarter earnings and revenue that topped analyst forecasts. Daily active users rose by a larger-than-expected amount as well, although Twitter did not offer any guidance for the current quarter or fiscal year. Twitter stock is now poised to drastically deepen its year-to-date deficit of 3%. 
4. The shares of Dunkin Brands Group Inc (NASDAQ:DNKN) are down 1.1% in electronic trading. Although the fast food chain's first-quarter earnings and revenue topped forecasts, same-store sales missed their mark. Plus, Dunkin' suspended its dividend and withdrew its 2020 outlook. Dunkin' stock is down 14% year-to-date.

5. Due out today is the employment cost index, personal income, consumer spending, core inflation data, and the Chicago purchasing managers index (PMI). Apple (AAPL), Amazon.com (AMZN), Dow (DOW), Dunkin' Brands (DNKN), Kellogg (K), and Visa (V) will throw their hats into the earnings ring.

Asian Stocks Climb, European Markets Unpack ECB Decision

News of a possible COVID-19 vaccine out of Gilead Sciences (GILD) propped up Asian markets on Thursday, sparking a 2.1% pop for the Nikkei in Japan. China’s Shanghai Composite, meanwhile, tacked on 1.3% as investor attention turned towards a slight expansion in the country’s manufacturing activity for April, though a private survey also released provided contradicting information.

European markets are sliding below the breakeven midday, after the Euro zone gross domestic product (GDP) reading for the first quarter contracted by a record 3.8%. Meanwhile, the bourses are unpacking the European Central Bank’s (ECB) latest monetary policy decision to keep interest rates steady, while scaling back lending conditions for banks. The French CAC 40 is down 1.2%, the German DAX is down 1.3%, and the London FTSE 100 is 1.7% lower.