Stock Market Today: Futures Slip as Geopolitical Worries Rise

NEW YORK (TheStreet) -- U.S. stock index futures slipped on Thursday as a sense of spiking geopolitical risk and an uncertain economic climate weighed on sentiment. 

U.S. initial jobless claims increased by 11,000 to 315,000 in the week ended Sept. 6, the Labor Department reported on Thursday.

Dow Jones Industrial Average futures were down 58 points, or 62.71 points below fair value, to 17,000. S&P 500 futures declined 6.75 points, or 6.54 points below fair value, to 1,988.25. Nasdaq futures dipped 11.2 points, or 13.02 points below fair value, to 4,081.8.

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U.S. stock indices picked up some momentum in the final hour of trading to finish positive Wednesday, bolstered by the information technology sector. Stocks had fluctuated for much of the day on uncertainties surrounding the approaching Sept. 18 Scottish independence referendum and the possibility of a global shift in interest rates.

Geopolitical jitters mounted Thursday as investors worried about rising conflict in the Middle East. President Obama outlined in a televised address Wednesday evening his plan to destroy militants from the group Islamic State. The president also said he's authorizing U.S. airstrikes inside Syria for the first time, along with expanded strikes in Iraq, as part of the campaign to intensify the battle against the Islamic State extremists.

"Right now Obama said he's upping the game for what's going on with ISIS. Some might feel a bit unsettled because the involvement has got the potential for escalation ... to the point where it disrupts business operations," said Karyn Cavanaugh, senior market strategist with Voya Investment Management.

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