Friday, March 21, 2008

US Stocks: S&P Futures Briefly Turn Down After Jobless Data

New York: S&P 500 stock index futures briefly turned lower but still pointed to a slightly higher opening on Thursday after data showing an unexpectedly large rise in the number of workers applying for jobless benefits.

S&P 500 futures were up 1.50 points, above fair value, a formula to evaluate pricing taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures rose 47 points, and Nasdaq 100 futures fell 3.50 points.

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