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U.S. stock futures advance

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[October 04, 2007]  NEW YORK (AP) -- Stock futures pointed toward a higher open on Wall Street Thursday as investors awaited readings on factory orders and weekly unemployment claims.

The Labor Department's report on jobless claims for the last week of September will be closely watched ahead of the much-anticipated data on September job creation, which comes out Friday. A strong job market has been an important prop for the U.S. economy, helping to offset investor concerns over a housing slump and sluggish growth.

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The previous job creation report was a major disappointment. A decline in payrolls in August -- when economists had forecast moderate growth -- shocked Wall Street and sent the Dow Jones industrial average down nearly 250 points on Sept. 7. Some are optimistic that the September report could be better than expected and include revisions to August's dismal numbers.

The Labor Department reports weekly jobless claims at 8:30 a.m. EDT, before the market opens. The Commerce Department reports August factory orders at 10 a.m. EDT.

Dow futures for December rose 27, or 0.2 percent, to 14,079. Standard & Poor's 500 futures gained 1.20, or 0.08 percent, to 1,551.90. Nasdaq 100 index futures rose 3.00, or 0.14 percent, to 2,123.75.

The Dow closed lower on Wednesday, along with broader stock indicators. It was the second day of retreat after stocks started the quarter Monday with sharp gains.

Bond prices fell. The yield on the 10-year Treasury note, which moves opposite the price, rose to 4.56 percent from 4.52 percent late Wednesday.

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Overseas markets were mixed. Britain's FTSE 100 gained 0.55 percent, Germany's DAX index fell 0.10 percent, and France's CAC-40 rose 0.06 percent. In Asia, Japan's Nikkei stock average fell 0.62 percent. Hong Kong's Hang Seng index declined 1.84 percent.

In commodities trading, gold and crude oil prices edged lower in pre-opening activity on the New York Mercantile Exchange. The U.S. dollar declined against the euro and other world currencies.

[Associated Press; by Lauren Villagran]

Copyright 2007 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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