Futures slip despite strong employment report

Published on NewsOK Modified: December 4, 2013 at 8:02 am •  Published: December 4, 2013

NEW YORK (AP) — Stock futures slid for the third straight day despite a strong employment report on hiring in the private sector and a narrowing U.S. trade deficit.

Trading volume was light Wednesday, as it has been all week, ahead of the big employment report from the Labor Department that is due Friday.

Dow Jones industrial futures fell 22 points to 15,869. S&P futures lost 4.7 points to 1,786.70. Nasdaq futures fell 6.75 points to 3,469.

A gloom has been cast over the markets this week by weak retail sales, which imply that Americans are still unsure about economic stability. Though unemployment is falling, it remains high. Home sales and prices have also slowed in what has been an upward climb this year.

American exports rose to an all-time high, the Commerce Department reported Wednesday, thanks to spiking oil sales. The trade gap narrowed to $40.6 billion in October, 5.4 percent lower than the previous month.

There is a lot more economic data due Wednesday.

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