Futures on the three major indices fell again after a devastating day of trading yesterday that saw the S&P 500 sink to an 8-month low and the Dow Jones Industrial average slump below 10,000. Job growth remained weak in the U.S., with companies adding only 13,000 jobs in June according to ADP Employer Services.
A survey of economists by Bloomberg News forecast an increase of 60,000, suggesting that the economy has yet to snap out of a jobless recovery. Last month, private sector payrolls increased by only 57,000.
Before trading, Dow Jones index futures fell 10 points to 9,787, while S&P 500 futures fell 1.5 points to 1033.8 and Nasdaq 100 futures fell 3.25 to 1.50.
The figures point to a day that, while it may not be as bad as yesterday’s general rout, could still disappoint. Many investors fear that that the impetus behind the economic recovery is fading, with particular weakness in China’s growth.
Without China’s economic engine, some worry that demand will stall globally and a double-dip recession could erase the fragile gains built over the last year.
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