Stocks appear headed for fall after jobs report

NEW YORK (AP) — Stocks appear headed for a fall at the opening of trading today after the government reported an unexpectedly sharp jump in unemployment claims.

Weekly unemployment claims rose to 429,000 last week, much higher than economists expected and the largest rise in four weeks. Economists had projected the number of people making applying for benefits would be 415,000.

Applications have stayed above 400,000 for more than two months, another sign that hiring has weakened from earlier this year.

Stock futures dropped immediately after the report was released. Ahead of the opening bell, Dow Jones industrial average futures are down 97 points, or 0.8 percent, at 11,926. S&P 500 futures are down 13 points, or 1 percent, at 1,267. Nasdaq 100 futures are down 18 points, or 0.8 percent, at 2,210.