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US STOCKS-Futures point to lower open after weak payrolls data

Thu Jul 2, 2009 6:37pm IST
 
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* June payrolls data worse than expected

* Commodities ease as U.S. dollar rises

* Light volumes expected ahead of three-day weekend

* Futures off: S&P 13.1 pts, Dow 107 pts, Nasdaq 11.25 pts

* For up-to-the-minute market news click [STXNEWS/US]

(Updates to early morning)

By Edward Krudy

NEW YORK, July 2 (Reuters) - U.S. stock index futures pointed to a sharply lower open on Thursday after payrolls data showed more Americans than expected lost their jobs in June, dampening hopes that the economy may be heading out of recession quickly.

U.S. employers cut 467,000 jobs in June, far more than the 363,000 forecast by a Reuters survey, while the unemployment rate rose to 9.5 percent, the government said on Thursday in a report that showed a labor market continuing to struggle. [ID:nOAT002191]  Continued...

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