Stock Futures Sink as U.S. Job Losses Accelerate

Updated from 8:49 a.m. EST

Premarket futures were predicting a lower open for U.S. stocks Friday, after the Labor Department announced that the U.S. economy lost more than half a million jobs in November, an even more dire result than had been anticipated.

Futures for the S&P 500 were down 22 points at 826 and were 19 points below fair value. Nasdaq futures were down 28 at 1107 and were 20 points short of fair value.

During the previous outing, stocks sold off in the final hour of trading as uncertainty about a Congressional bailout for the automakers and worries about the Department of Labor's upcoming employment number had investors running for the exits. ...