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Stock futures rise after jobless claims report



Published: Thu, July 8, 2010 @ 9:39 a.m.

NEW YORK (AP) — Stock futures are rising after a better-than-expected report on jobless claims.

The government said initial claims for unemployment benefits fell to 454,000 last week. That’s better than the 465,000 forecast by economists.

Disappointing jobs reports have driven stocks lower in recent weeks. So Thursday’s report on initial claims provided, at least temporarily, some relief that the jobs market is not improving.

High unemployment remains one of the biggest obstacles to a strong, sustained recovery.

Dow Jones industrial average futures are up 29, or 0.3 percent, at 10,009. Standard & Poor’s 500 index futures are up 2.90, or 0.3 percent, at 1,062.20, while Nasdaq 100 index futures are up 3.00, or 0.2 percent, at 1,792.50.


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