Posted: Jul 12, 2012 5:24 AM by Associated Press
NEW YORK (AP) - Stock futures are heading lower ahead of the latest employment report that is expected to illustrate just how the slowly the economic recovery is playing out.
Economists surveyed by FactSet expect that weekly unemployment benefit applications ticked up by 1,000 to a seasonally adjusted 375,000.
Dow Jones industrial average futures are down 87 points to 12,449. Standard & Poor's 500 futures are down 10.3 points to 1,326 and Nasdaq futures are sliding 15.25 points to 2,546.25. All three futures reading are down about 2 percent for the week.
The government releases the latest federal budget deficit figures Thursday afternoon and projections suggest the U.S. added another $60 billion to the deficit in June.
Google Inc. posts second-quarter earnings after the closing bell.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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