US futures rise as latest unemployment claims fall

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Associated Press

Posted on November 21, 2012 at 8:01 AM

Updated Wednesday, Nov 21 at 8:02 AM

NEW YORK (AP) — Stock futures are rising on stronger jobs numbers and an aggressive outlook from Deere & Co., which reported its profit rose nearly 3 percent in the fourth quarter.

Dow Jones industrial futures are up 7 points to 12,766. The broader S&P futures have added 1.3 points to 1,387.60. Nasdaq futures are up 2.5 points to 2,596.25.

Markets may ignore Wednesday's figures from the Labor Department because the massive storm that struck the East Coast in late October has distorted figures.

The number of people seeking unemployment benefits fell sharply to a seasonally adjusted 410,000 last week.

Applications dropped 41,000 from the previous week, when the storm drove applications to their highest level in 18 months. The four week average, a less volatile measure, rose 9,500 to 396,250.

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