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 The Labor Department's report on initial claims for unemployment, scheduled to be released at 8:30 a.m. Eastern time, is expected to show a decline for last week compared to the previous week. The Philadelphia Federal Reserve's report on manufacturing, scheduled for 10 a.m. EDT, is anticipated to show that activity is contracting this month, but at a slower pace than in May.
Also at 10 a.m. EDT, Wall Street will also be examining the Conference Board's May index of leading indicators, which should provide some additional information on the direction of the economy. Economists are forecasting a flat reading.
So far this week, the Dow Jones industrial average has fallen more than 270 points. Concerns about tight credit returned the market after profit declines at major investment banks and signals that the industry is going to have to raise more cash. With the nation's money centers under stress, it appears the economy will have a hard time rebounding; borrowing is essential to growth.
Dow futures on Thursday rose 7, or 0.06 percent, to 12,035. Standard & Poor's 500 index futures rose 0.30, or 0.02 percent, to 1,339.10. Nasdaq 100 index futures fell 0.75, or 0.04 percent, to 1,960.75.
Bond prices were little changed ahead of the market's open. The yield on the benchmark 10-year Treasury note, which moves opposite its price, edged up to to 4.15 percent from 4.14 percent late Wednesday.
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 The dollar traded mixed against other major currencies, while gold prices moved lower.
Crude oil futures dipped 88 cents to $135.80 in premarket electronic trading on the New York Mercantile Exchange.
Overseas, Japan's Nikkei stock average sank 2.23 percent. In midday trading, Britain's FTSE 100 was flat, Germany's DAX index declined 0.05 percent, and France's CAC-40 fell 0.10 percent.
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On the Net:
New York Stock Exchange: http://www.nyse.com/
Nasdaq Stock Market: http://www.nasdaq.com/
[Associated Press; By MADLEN READ]
Copyright 2008 The Associated Press. All rights reserved. This
material may not be published, broadcast, rewritten or
redistributed.
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