Stocks set to fall after weak employment report

NEW YORK (AP) — Stocks are headed lower after the government reported that businesses added fewer jobs than expected last month.

The Labor Department says the economy created a net total of 103,000 jobs in December, less than the 145,000 that economists predicted. The unemployment rate fell to 9.4 percent from 9.8 percent.

Federal Reserve Chairman Ben Bernanke will likely address employment when he testifies about the economy on Capitol Hill today. A report on consumer credit will also show whether consumers borrowed more money in November.

Ahead of the opening today, Dow futures are down 11 points, or 0.1 percent, at 11,635. Standard & Poor’s 500 futures are down 2 points, or 0.1 percent, at 1,268. Nasdaq 100 index futures are down 1, or less than 0.1 percent, at 2,275.