NEW YORK (AP) — Stock futures are falling after a disappointing report on weekly claims for jobless benefits.
The Labor Department says initial claims for unemployment benefits jumped by 12,000 to 500,000 last week. Economists were expecting a small drop in claims. That renews worries about the pace of a recovery.
The jump in the number of people filing for unemployment benefits helped wipe out a sharp rise in futures Thursday that occurred following news that Intel Corp. is acquiring McAfee Inc.
Dow Jones industrial average futures are down 20, or 0.2 percent, at 10,332. Standard & Poor’s 500 index futures are down 3.00, or 0.3 percent, at 1,083.70, while Nasdaq 100 index futures are down 2.50, or 0.1 percent, at 1,834.25.
