US futures dip on EU economic concerns

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Associated Press

Posted on December 6, 2012 at 11:00 AM

Updated Thursday, Dec 6 at 11:01 AM

NEW YORK (AP) — Stock futures are falling as news that Europe will hold off on new stimulus measures overshadowed a positive jobs report in the U.S.

Dow Jones industrial futures are down 6 points to 13,018. The broader S&P futures have slipped 1.3 points to 1,407. Nasdaq futures are down 5.5 points to 2,632.

Europe's Central bank left its interest rate unchanged. Even though rates remain at a record low, European unemployment rates continue to rise and the central bank cuts its growth forecast for next year from positive to negative.

The Labor Department said Thursday that unemployment benefits applications dropped 25,000 last week to a seasonally adjusted 370,000, which signals a return to modest hiring.

But the storm will likely leave a mark in the critical monthly employment report to be released Friday.

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