US stocks point to lower open ahead of jobs report

In this June 2, 2011 photo, traders work on the floor at the New York Stock Exchange in New York. Stock markets were trading in a fairly volatile manner Friday, June 3, as investors awaited U.S. jobs data and the latest appraisal of Greece’s economy. (AP Photo/Seth Wenig)

Stocks appear to be headed toward a lower opening as traders await the government’s key employment report for May.

The jobs report will cap a week in which weak economic news prompted the Dow Jones industrial average’s largest drop in nearly a year. Weak reports on private hiring, industrial growth and claims for unemployment benefits caused analysts to lower their projections for economic growth in the second quarter.

Major retailers reported disappointing sales results on Thursday as high fuel and food prices continued to weigh on consumer sentiment.

Ahead of the opening bell, Dow futures are down 33 points, or 0.3 percent, at 12,205. Standard Poor’s 500 futures are down 4, or 0.3 percent, at 1,309. Nasdaq 100 futures are down 8, or 0.3 percent, at 2,318.

GD Star Rating
Posted in Finance and tagged , , , , , .

Leave a Reply

Your email address will not be published. Required fields are marked *