Stock futures fall after jump in jobless claims

August 5, 2010 6:43:30 AM PDT
Stock futures are falling after a report shows initial claims for unemployment benefits rose unexpectedly last week.

Initial claims rose to 479,000 last week, indicating the jobs market remains weak and will likely slow economic growth. Economists had expected a small drop in claims to 455,000.

The report Thursday comes a day before the Labor Department's monthly report on employment and a day after a better-than-expected report that private hiring rose last month.

Dow Jones industrial average futures are down 24, or 0.2 percent, at 10,61. Standard & Poor's 500 index futures are down 4.40, or 0.4 percent, at 1,120.20, while Nasdaq 100 index futures are down 3.50, or 0.2 percent, at 1,901.75.