Stock Futures Gain on Upbeat Labor Market Numbers
NEW YORK (TheStreet) -- Stock futures were rising Thursday, pointing to a modest rebound in equities after the S&P 500 fell for a fifth straight day, its longest losing streak since December, as the latest jobless claims numbers provided a constructive read on the labor market ahead of next week's widely watched non-farm payrolls report.
Gains were limited amid the threat of a U.S. public default. On Wednesday U.S. Treasury Secretary Jack Lew warned the country could begin to run out of money to pay its bills as early as mid-October.
Futures for the S&P 500 were rising 3.75 points, or 3.98 points above fair value, to 1,689.5. Futures for the Dow Jones Industrial Average were higher by 31 points, or 46.74 points above fair value, to 15,241. Futures for the Nasdaq were up 15.5 points, or 15.7 points above fair value, to 3,215.5.
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