Futures mixed after jobs report

NEW YORK (AP) — Stock futures were mixed Friday after the U.S. reported that the unemployment rate dropped to 7.4 percent in July, the lowest level in more than four years.

The total number of jobs created, however, was short of most projections by economists and at 162,000 in all, it was the fewest added since March.

Dow Jones industrial futures fell 7 points to 15,543. The broader S&P futures lost a point to reach 1,699.20. Nasdaq futures gained 13.5 points to 3,126.25.

The government also reported the fastest uptick in consumer spending in four months for June.

Consumer spending drives about 70 percent of U.S. economic activity, making it a big signal for economists trying to gauge how Americans are felling about their prospects going forward.

Later Friday, the Commerce Department will report factory orders for June. Most economists are expecting brisk activity in the sector.

KSN.com provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language, racial slurs or consistent name calling will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review.

blog comments powered by Disqus