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US futures rise on jobs, inflation reports

Published on NewsOK Modified: December 13, 2012 at 8:02 am •  Published: December 13, 2012

NEW YORK (AP) — Stock futures rose Thursday after government data showed that unemployment claims dropped sharply last week and inflation is being held in check.

Dow Jones industrial futures rose 10 points to 13,240. The broader S&P futures tacked on 0.20 points to 1,427. Nasdaq futures rose 3.25 points to 2,673.50.

Applications for unemployment benefits fell 29,000 last week to a seasonally adjusted 343,000, the Labor Department said Thursday, the second-lowest total this year.

The four-week average, a less volatile measure, fell 27,000 to 381,500.

The data on declining unemployment applications, which suggests that companies are cutting fewer jobs, comes after the Federal Reserve for the first time ever tied its interest rate policy to unemployment as it aggressively attacks joblessness in the U.S.

The Fed said Wednesday that it will keep its key short-term interest rate near zero at least until the unemployment rate drops below 6.5 percent and inflation rises to 2.5 percent.

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