US futures edge higher ahead of jobs report

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Associated Press

Posted on January 10, 2013 at 6:34 AM

Updated Thursday, Jan 10 at 6:36 AM

NEW YORK (AP) — U.S. stock futures are rising ahead of a government report that is expected to show fewer people applying for unemployment benefits last week.

Dow Jones industrial futures are up 32 points to 13,357. The broader S&P futures have added 4.4 points to 1,460.20. Nasdaq futures are up 7.75 points to 2,729.75.

Economists forecast that applications for unemployment dropped 7,000 last week to a seasonally adjusted 365,000, according to a survey by FactSet. The Labor Department releases its report at 8:30 a.m. EST.

Also on Thursday, the Commerce Department is expected to report that wholesale companies cut back on restocking in November because of weak sales. Some economists cite the showdown between the Congress and President Barack Obama over the budget.

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