5 things to know before the stock market opens Thursday, Aug. 26

Here are the most important news, trends and analysis that investors need to start their trading day:

U.S. stock futures were flat Thursday ahead of two key before-the-bell economic reports. The S&P 500 on Wednesday crossed 4,500 for the first time ever, but ended slightly below that level for another record high close. The Nasdaq finished at another record. Both benchmarks were on five-session winning streaks heading into the open. The Dow Jones Industrial Average saw its fourth straight positive session and inched closer to last week’s record high close — roughly 0.6% away. Dow stock Salesforce rose 2% in Thursday’s premarket, the morning after reporting better-than-expected quarterly earnings and revenue, as well as robust forward guidance.

The 10-year Treasury yield was steady Thursday, one day after rising to its highest level in weeks. Traders will get the latest figures on weekly jobless claims and economic growth at 8:30 a.m. ET. Economists expect 350,000 new claims for the week ended Aug. 21. That would be a slight increase from the previous week’s pandemic-era low. The government’s second look at gross domestic product for the second quarter is seen rising slightly from the previous estimate to an annual rate of 6.7%. Several regional Federal Reserve presidents speak Thursday, ahead of Fed Chairman Jerome Powell‘s Friday address to the virtual Jackson Hole, Wyoming, summit.

New Covid hospital admissions for kids have reached their highest levels since the U.S. started tracking pediatric cases about a year ago. Doctors are warning it could get worse as schools begin to reopen and the fast-moving delta variant drives infections higher. While delta is more contagious than previous variants, causing a surge in pediatric hospitalizations, so far it doesn’t appear to generate more severe disease in children. Kids still account for a small number of hospitalizations at 1.8%. Out of more than 520,000 Covid deaths the Centers for Disease Control and Prevention has demographic data on, fewer than 500 were kids under 18.

Officials from the U.K. have warned of a “highly credible” threat of an attack at Kabul airport by Islamic State militants. The terror alert comes as massive evacuation efforts enter their final stages, with countries scrambling to get people out of Taliban-controlled Afghanistan ahead of an Aug. 31 deadline set by President Joe Biden. As many as 1,500 Americans are still waiting to be evacuated from Afghanistan, Secretary of State Antony Blinken said Wednesday at his first news conference since the Afghan government fell to the Taliban more than a week ago.

Business leaders from a range of industries pledged billions of dollars to increase U.S. cybersecurity capabilities. Microsoft committed $20 billion over five years to deliver more advanced security tools, CEO Satya Nadella tweeted after Wednesday’s meeting at the White House with the president. Alphabet‘s Google promised to invest more than $10 billion over five years to strengthen cybersecurity and to train 100,000 American workers in technical fields. Two water company executives exiting the meeting told CNBC the discussion emphasized collaboration across sectors.

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