NEW YORK (AP) — Stocks are set to continue their rally after a report showed new claims for unemployment benefits fell sharply.
The Labor Department says people requesting unemployment benefits for the first time fell to 451,000 last week from a revised 478,000 a week earlier. Economists had been expecting claims to fall to 470,000.
Claims are still at levels that indicate the jobs market is weak and rapid hiring is unlikely anytime soon. But investors have taken solace in modest improvements recently that suggest the economy will continue to grow slowly during the rest of the year.
Dow Jones industrial average futures are up 61, or 0.6 percent, at 10,453. S&P 500 futures are up 8, or 0.8 percent, at 1,108, while Nasdaq 100 futures are up 12, or 0.7 percent, at 1,890.
