Stock Futures Sink as U.S. Job Losses Accelerate

Traders were also training a keen eye on the automakers. CEOs from General Motors (GM Quote), Ford (F Quote) and Chrysler are again slated to appear before lawmakers in hopes of striking a bailout deal. Sticking points on the package have included the source of funding, concessions the automakers should make and how much money they should get.

As for company news, The Wall Street Journal said airplane manufacturer Boeing (BA Quote) may face additional delays for its 787 jet.

Meanwhile, shareholders of Bank of America (BAC Quote) and Merrill Lynch (MER Quote) vote Friday on a merger that will create the nation's largest financial services company.

Shifting to commodities, crude oil was shedding 39 cents to $43.28 a barrel. Gold was gaining 80 cents to $766.30 an ounce.

Longer-dated U.S. Treasury securities were rising in price. The 10-year was adding 12/32 to yield 2.51%, and the 30-year was up 22/32, yielding 3.01%.

Overseas, European exchanges such as the FTSE in London and the DAX in Frankfurt were trading lower. In Asia, Japan's Nikkei closed with losses, while Hong Kong's Hang Seng ended with gains.