US futures move lower

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IOL wall street

US stock futures are heading lower ahead of a pair of government reports on consumer spending and unemployment benefits claims.

Dow Jones industrial futures are down 41 points to 13,043. The broader S&P futures have given up 5.2 points to 1,402 and Nasdaq futures are down 11.25 points to 2,770.

Analysts surveyed by FactSet expect applications for unemployment benefits fell by 2,000 to a seasonally adjusted 370,000. Applications have edged higher the past two weeks but are still below levels seen as recently as six weeks ago.

The government is expected to report that consumer spending, watched closely because it accounts for 70 percent of economic activity, rose in July. - Sapa-AP


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