Indexes down on economy worries

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U.S. stock futures are pointing to a lower open as investors continue to worry about the economy.

 

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The Dow Jones Industrial Average and S&P 500 were indicated 0.5 percent lower, while the Nasdaq was down 0.7 percent. The futures came off earlier lows after U.S. economic reports came in better than expected this morning.

 

Initial jobless claims fell by fell by 19,000 to 457,000, according to the Labor Department. That was 3,000 fewer than expected. Durable goods orders for May also fell just 1.1 percent, while economists had predicted a 1.3 percent decline.

 

Earlier in the morning, the European Union said that industrial orders increased for the third straight month in April, although the gains were below economists' expectations.

 

Big concerns remain from earlier in the week, when the Federal Reserve sounded a cautious tone on the economy and U.S. new home sales fell to a record low.

 

  (Chart courtesy of tradeMONSTER )

 



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Options

Referenced Stocks: DJI , NDX , SPX

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