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 The preliminary fourth-quarter report on gross domestic product, which measures the pace of economic growth or decline, and the latest tally on weekly jobless claims are both due at 8:30 a.m. Eastern time.
Fourth-quarter GDP is projected to show a rise of 0.7 percent, according to a median estimate of analysts polled by Thomson/IFR. That would would be an improvement over the 0.6 percent gain seen in the third quater of 2007, but would still be a weak pace of growth by recent historical standards.
Investors are concerned about the possibility that the economy is continuing to slow while prices are rising, a condition known as stagflation. So the GDP number was of particular interest.
The number of workers applying for first-time out-of-work claims is expected to increase by 1,000 to 350,000, according to Thomson/IFR. Weekly jobless claims are usually a volatile piece of data, but investors are tracking them carefully these days because there are worries that the labor market may be shrinking.
The futures contract for the Dow Jones industrial average fell 57 points, or 0.2 percent, to 12,636. Futures contracts for the Standard & Poor's 500 index lost 4.30 points, or 0.3 percent, to 1,376.30 and the Nasdaq 100 gave up 1.5 points, or 0.1 percent, to 1,798.8.
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 The stock market this week has been barraged by a series of complex developments, including regulatory changes that should enable mortgage companies Fannie Mae and Freddie Mac to put badly needed liquidity into a famished housing sector and indications funding may be found for ailing bond insurers.
Throughout the week the market has responded in a generally favorable way, allowing the Dow to post gains every day so far. Some investors even are hoping that on Friday the major indexes will manage to end February with gains, which would be a marked contrast to the bloodletting seen in January.
Much will depend on whether hopeful or discouraging signs for the housing and bond insurance crises emerge on the two final trading sessions of the month. 2,353.78.
Sears Holdings Corp. warned early Thursday that future results will be harmed by declining economic conditions. It also posted a 47 percent decline in quarterly income.
There were losses in overseas trade. In Tokyo the Nikkei closed down 0.75 percent. In Europe, London's FTSE 100 fell 1.19 percent, Paris' CAC 40 lost 1.25 percent and Frankfurt's DAX dropped 1.13 percent.
[Associated Press; By LESLIE WINES]
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