NEW YORK (AP) — Stocks are headed for a lower opening after the government said more people are applying for unemployment benefits.
The Labor Department said 445,000 people applied for unemployment benefits last week, up from a revised total of 410,000 the previous week. It was the highest level since late October. Many retailers eliminated temporary holiday workers, driving the increase.
Economists say applications need to consistently fall below 375,000 to substantially bring down the unemployment rate.
Ahead of the opening bell Thursday, Dow Jones industrial average futures are down 15 points, or 0.1 percent, at 11,694. Broader Standard & Poor’s 500 index futures are down 2, or 0.1 percent, at 1,281. Nasdaq 100 index futures are down 1, or 0.1 percent, at 2,303.
