Stock futures pare gains after jobless claims rise

June 17, 2010 7:14:37 AM PDT
NEW YORK (AP) - Stocks futures are pulling off their highs after weekly jobless claims rose unexpectedly last week. The government said Thursday that the number of people putting in new claims for unemployment benefits climbed after falling three straight weeks.

Initial claims for jobless benefits rose by 12,000 to a seasonally adjusted 472,000. That's the highest level in a month. Economists had forecast that claims would fall.

The government also reports that consumer prices dropped for a second straight month following a decrease in energy costs.

Dow Jones industrials futures halved their gains and are up 19 at 10,363. Standard & Poor's 500 index futures are up 1.60 at 1,110.20. Nasdaq 100 index futures are up 4.25 at 1,910.25.