New jobless claims continue trending down, slightly beating analysts' expectations

Roughly 1.31 million Americans filed first-time unemployment claims last week, the U.S. Bureau of Labor Statistics reported Thursday. The number marks the 16th-straight week that initial jobless claims in the country have exceeded 1 million. 

The number is slightly lower than the 1.39 figure that economists anticipated, following 1.4 million the previous week. 

The new figure continues the downward trend of filings seen in recent weeks, as workers begin to return to their jobs. However, it is unclear whether that pattern will continue as coronavirus case numbers spike in various areas across the country.

Millions of unemployed Americans have been receiving benefits in addition to $600 a week as a congressional compensation for remaining at home throughout the duration of the pandemic.

However, those enhanced benefits, which were established by CARES Act, are set to expire in the coming weeks. Congress and the White House are working on an extension of the program, but the exact form that it will take remains unclear.

Dow futures were lower this morning ahead of the market's opening. The Dow added 180 points on Thursday, as other key indexes climbed as well. On Wednesday, global cumulative coronavirus cases passed 12 million, and U.S. cases topped 3 million.