“Wall Street stocks were set for a lower open on Thursday as worries about higher inflation and signs of job market weakness kept investors cautious,” Angela Moon reports for Reuters.
“The S&P index futures added to losses after data showed an unexpected rise in weekly jobless benefits claims to back above the key 400,000 level,” Moon reports. “Separately, the government said U.S. core producer prices rose slightly faster than expected in March, pointing to increased inflation pressures.”
Moon reports, “S&P 500 futures fell 8.4 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures fell 52 points and Nasdaq 100 futures lost 12.50 points.”
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