Stock slip on Trump announcement | A sign of recovery for jobs? | Social media crackdown

Stocks fell following an announcement that President Trump would hold a news conference on Friday.

VIEW IN BROWSER | SUBSCRIBE THU, MAY 28, 2020 EVENING BRIEF AS OF THU, MAY 28, 2020 • 04:13 ET DJIA 25400.64 -0.58% -147.63 S&P 500 3029.73 -0.21% -6.40 NASDAQ 9368.99 -0.46% -43.37   Most Active DOW NAME LAST CHG %CHG BA 149.82 +0.30 +0.20% MSFT 181.40 -0.41 -0.23% AAPL 318.25 +0.14 +0.04% S&P 500 NAME LAST CHG %CHG GE 6.78 -0.51 -7.00% BAC 24.86 -1.12 -4.31% NCLH 16.07 -1.52 -8.64% NASDAQ NAME LAST CHG %CHG AAL 10.98 -1.00 -8.35% UAL 28.88 -1.81 -5.90% AMD 51.74 -1.00 -1.90% EDITOR'S NOTE Thursday's jobless claims report implies that millions of people have returned to work as states continue reopening businesses.   A drop of 4 million in continuing jobless claims bolsters the argument for a stronger recovery, and it's a positive sign for anyone looking for work. Nevertheless, economists are still trying to get a handle on the total carnage in employment, writes CNBC's Patti Domm. The unemployment rate for May is expected to come in at around 20%.   Thursday's report showed 2.1 million people filed unemployment claims last week, but that was better than the 2.4 million in the prior week. More than 40 million people have filed since mid-March when the coronavirus was declared a pandemic. "These are just enormous numbers," said Chris Rupkey, chief financial economist at MUFG Union Bank. "It's still at least three times more than the number of people filing claims in any week of the Great Recession."   Stocks stayed in the green for most of the day on Thursday but fell into the red after President Donald Trump announced a news conference on China.   Adam Crisafulli of Vital Knowledge said in a note that stock valuations are too high and this "leaves no room for error while investors aren't paying enough attention to rising US-China tensions."   Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. Al Lewis | CNBC Markets Editor @tellittoal TOP NEWS  Stocks slide after Trump announces China news conference Another 2.1 million file jobless claims, but total unemployed shrinks Jobs data shows millions went back to work but unemployment rate for May is still expected at 20% Pending home sales plummet in April, but demand is showing signs of a rebound Track the latest coronavirus news here Large Wall Street speculators don't believe in this market comeback NY Fed President Williams says U.S. is not 'anywhere near' its limits to run up debt Rise of remote working is 'biggest threat to oil demand,' says analyst Trump to sign executive order aimed at cracking down on Facebook and Twitter, vows 'FAIRNESS!' Twitter CEO stands by fact-check on Trump's tweets as the White House prepares an executive order on social media bias     TOP VIDEO Watch CNBC's full interview with Facebook CEO Mark Zuckerberg   CNBC PRO These hedge funds got the stay-at-home trade right. Here are their other big bets   SPECIAL REPORTS As Disney sets date for reopening its Florida parks, traders warn of trouble ahead A technical green light suggests Big Tech could retake market leadership, trader says   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2020 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS