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Article: US stock futures soar on fewer job losses
- Article from:
- AP Online
- Article date:
- June 5, 2009
- Author:
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U.S. stock futures are surging as investors cheer a government report that says employers cut fewer jobs last month than expected.
The Labor Department says 345,000 jobs were lost in May, much less than the half-million job losses economists had been expecting.
Still, the unemployment rate has shot up to 9.4 percent from 8.9 percent in April. This is slightly higher than the 9.2 percent rate that had been forecast.
Dow Jones industrial average futures are up 126 to 8,856, after being up about 33 points prior to the report. Standard & Poor's 500 index futures are up 16 to 956, while Nasdaq 100 index futures are up 13 to 1,506.
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