Futures Fall Following Data Deluge
NEW YORK ( TheStreet) -- Stock futures were pointing to a lower open Thursday after weekly jobless claims showed only a modest drop and personal spending rose less than expected.
Futures for the Dow Jones Industrial Average were down 9 points at 11,559 and were 10 points below fair value. Futures for the S&P 500 were 2 points lower at 1,259 and were nearly 2 points below fair value. Nasdaq futures were down 6 points at 2,236 and were trading 4 points below fair value.
Investors have a deluge of economic reports to digest Thursday, even as they wait for a shortened trading week to come to a close.The Labor Department said initial jobless claims fell by 3,000 last week to a seasonally-adjusted 420,000. Economists were expecting claims to rise by 4,000 to 424,000 , according to consensus estimates from Briefing.com. But the mild drop failed to impress investors.
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