Futures slip, pause after big rally, jobless claims ahead

A trader walks by the New York Stock Exchange (NYSE) on the first day that traders are allowed back onto the historic floor of the exchange on May 26, 2020 in New York City.

Spencer Platt | Getty Images

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8:26 am: DOJ approves Charles Schwab, TD Ameritrade deal 

E-broker Charles Schwab received antitrust approval from the Department of Justice for its acquisition of TD Ameritrade, sources told CNBC’s David Faber on Thursday. Schwab announced last November it would buy rival broker TD Ameritrade in an all-stock deal valued at $26 billion. The merging of the two biggest publicly traded discount brokers will create a mammoth with more than $5 trillion in client assets, $3.8 trillion from Schwab and $1.3 trillion from TD Ameritrade. There were concerns about Schwab’s dominance in the registered investment advisors space, added with TD Ameritrade share; however, the DOJ did not see any violation, sources told Faber. — Faber, Fitzgerald 

8:10 am: ECB increases bond buying, U.S. futures turn positive

Stock futures cut earlier losses and briefly turned positive after the European Central Bank announced that it would buy an additional 600 billion euros of government bonds. That equates to roughly $672 billion.The central bank had announced in March that its Pandemic Emergency Purchase Programme would buy 750 billion euros of bonds, bringing the total to 1.35 trillion euros. The new announcement also extends the program until June 2021. —Pound, Amaro

8:01 am: Dow futures go green briefly

Dow futures cut their earlier losses and went green briefly after the European Central Bank ramped up its pandemic bond buying. The ECB announced Thursday that it will raise its Pandemic Emergency Purchase Programme (PEPP) by 600 billion euros ($672 billion). Dow futures went positive. S&P 500 futures cut their losses as well. Futures still remained slightly in the red. -Melloy

7:55 am: Planet Fitness downgraded by Raymond James, valuation has become ‘stretched’

Shares of Planet Fitness shed more than 3% during Thursday’s premarket trading after Raymond James downgraded the stock to a market perform rating, citing valuation concerns. “While we continue to believe PLNT is well-positioned for longer-term growth and market share gains, we also believe valuation has become stretched, particularly given the number of uncertainties at this point regarding the pace of recovery,” Raymond James said. The firm also removed its price target on the stock. Shares have gained more than 34% in the last month as states have begun to reopen their economies. –Stevens

7:52 am: China to open doors to foreign airlines after U.S. bans Chinese carriers

China’s aviation authority will let foreign airlines increase flights between the country and other regions starting Monday, a move that follows the U.S. suspending Chinese passenger flights from entering the U.S. These moves come as tensions between the two countries simmer amid the coronavirus pandemic and China imposing stricter security measures on Hong Kong. —Imbert, Cheng

7:21 am: Wall Street set to give back some of the early gains in June

U.S. stock futures pointed to a lower open on Thursday as Wall Street took a breather from its blistering start to June. Dow Jones Industrial Average futures traded 104 points lower, or 0.4%, while S&P 500 futures slid 0.5%. Nasdaq 100 futures dipped nearly 0.2%. The Dow was coming off a three-day winning streak after rallying more than 500 points on Wednesday. The S&P 500 posted on Wednesday its longest winning streak since February, rising for a fourth day. Traders looked ahead to the release of weekly U.S. jobless claims as they gauge the economic damage from the coronavirus pandemic. —Imbert

—With reporting from Evelyn Cheng. 

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