Futures rebound as jobs numbers roll out

NEW YORK (AP) — U.S. futures rose on upbeat jobs numbers Thursday, though trading remains light ahead of a crucial report from the Labor Department at the end of the week.

After two days in negative territory, the Dow is at risk of posting its first three-day losing streak of the year.

Dow Jones industrial futures rose 33 points to 14,992. S&P futures added 5.2 points to 1,613.20. Nasdaq futures tacked on 7.25 points to 2,945.75.

It’s been all about jobs this week.

Payroll provider ADP said Wednesday that U.S. businesses added just 135,000 jobs in May, a rather weak number. Then on Thursday, consultants Challenger, Gray & Christmas said that job cuts fell 4.5 percent in April, leaving sentiment fragments about the jobs landscape.

The weekly employment report from the U.S. did not provide much more clarity.

The number of Americans seeking unemployment benefits fell 11,000 last week to a seasonally adjusted 346,000, according to the Labor Department. While that’s down from the previous week, the agency revised the previously reported number to 357,000, up from 354,000.

Trading as been light all week ahead of the most crucial jobs number, the Labor Department’s employment report for May.

Economists believe employers added 170,000 jobs last month, after posting a very strong 165,000 additional jobs in April.

Markets will also be paying attention to comparable store sales that will be posted Thursday by retailers.

blog comments powered by Disqus