Stock market futures projected another disappointing day on Thursday morning, as traders eyed yesterday’s losses and unemployment claims rose unexpectedly in the last week. Initial jobless claims climbed 2,000 to 484,000, more than analysts expected.
The median forecast projected that claims would fall by 19,000.
Before the opening bell, Dow Jones Industrial Average index futures lost 94 points to 10,243, while S&P 500 futures dropped 12.70 points to 1,072.30. Nasdaq 100 futures slipped 25 points to 1,812.75, while Mexican Bolsa index futures plummeted, falling 724 points to 32,129.
“Businesses are simply reluctant to put people on payrolls and are more willing to let them go. This week’s increase was more disappointing than what we’ve seen in recent weeks,” David Resler, Nomura Securities International’s chief economist in New York, told Bloomberg News.
Yesterday’s losses were the heaviest in several weeks, and traders have little in the way of positive data to sustain any kind of rally. Earnings were poor today as, with Cisco losing over 8 percent after sales slowed.
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