Stock index futures fell on Thursday as investors readied for data expected to show more Americans lost their jobs in June than in the previous month, in another sign the economic recovery may be slower than hoped.
The U.S. economy likely shed 363,000 non-farm jobs in June, a steeper estimate than originally forecast, while the unemployment rate hit a 26-year high, but for a nation mired deep in recession that may be good news.
Stock index futures fell on Thursday as investors braced for all-important monthly jobs data for insight into the state of the economy.
A bigger than expected rise in U.S. gasoline stocks and a fresh focus on global financial weakness pushed oil markets down a dollar on Thursday to around $68 a barrel.
The U.S. economy likely shed a further 355,000 jobs in June and the unemployment rate hit a 26-year high, but for a nation mired in its deepest recession since at least World War Two that may be good news.
World stocks slipped from the previous day's two-week high while the dollar rose broadly on Thursday as investors looked to a closely-watched U.S. employment report to gauge the state of economic recovery.
Oil prices were little changed just above $69 a barrel on Thursday, after falling in the previous session on data showing a larger-than-expected increase in U.S. gasoline stocks, which dented hopes of a demand recovery.
Stocks in Hong Kong and Taiwan rose on Thursday, bolstered by bets China's recovery will continue, while the U.S. dollar recovered from a three-week low against the euro ahead of the latest U.S. labor market report.
A U.S. Securities and Exchange Commission lawyer warned about irregularities at Bernard Madoff's financial management firm as far back as 2004, The Washington Post reported on Thursday, citing agency documents and sources familiar with the investigation.
Asian stocks were largely unchanged on Thursday ahead of the latest U.S. payrolls report, while the U.S. dollar remained near a three-week low against the euro, sensitive to lingering doubts about its reserve status.
A will signed by Michael Jackson putting his multimillion-dollar estate in a trust for his children and mother was filed in court on Wednesday, as details of his highly-anticipated funeral remained sketchy.
Abandoned by Michael Jackson after a humiliating child molestation trial in 2005, the late singer's Neverland Ranch could now become one of the biggest draws in the world as a memorial to the King of Pop.
Karl Malden, the bulbous-nosed actor who won an Academy Award for his supporting role in Streetcar Named Desire and became a fixture in American Express Co. advertising died today at 97.
Layoffs for the month of June exceeded the expectations, China on Tuesday delayed implementation of a controversial rule that requires all manufacturers to install Internet filtering software, California state resorts to issuing IOU's after the governor and lawmakers failed to reach a budget agreement.
General Motors Corp has no choice but to sell its assets to a group led by the U.S. government if it is to survive, a lawyer for the bankrupt carmaker argued in bankruptcy court in Manhattan on Wednesday
The U.S. government will soon release $4 billion of loans and grants aimed at expanding broadband access to underserved areas across the United States, officials said on Wednesday.
Total U.S. new light vehicle sales in June were down 27.7 percent to 859,847, according to Autodata Corp, which compiled results released today by automakers. Ford Motor Corp fell the least with a 10.7 pct decline.
Auto seating supplier Lear Corp said on Wednesday it would file for Chapter 11 in a reorganization supported by key secured lenders and bondholders and had obtained $500 million in bankruptcy financing.
The U.S. will give $408 million in federal funds to develop two new carbon capture and sequestration projects in coal fired power plants, Energy Sec. Steven Chu announced on Wednesday.
The projects aim to achieve at least 90 percent carbon dioxide capture efficiency, Chu said.
A year-old website, inspired by the use of Twitter and Internet media reporting out of Iran, hopes to become the go-to forum for citizen journalists everywhere as traditional media pulls back.
U.S. auto sales tumbled 28 percent in June, the narrowest decline in nine months, as Ford Motor Co stole market share from its rivals.
The U.S. Energy Information Administration reported gasoline stockpiles rose by 2.3 million barrels last week, surpassing analysts' forecasts and showing the economic crisis has hit fuel demand hard. Distillate inventories jumped by 2.9 million barrels and crude stockpiles fell by 3.7 million barrels.
