U.S. stocks were poised to open slightly higher following a lower-than-expected report on jobless claims.
The number of Americans filing first-time claims for jobless benefits dropped unexpectedly last week to the lowest level in two months, another sign that layoffs may be slowing as the economy tries to pull out of recession. Applications fell by 21,000 to 530,000 in the week ended September 19, from a revised 551,000 the week before. The consensus estimate of economists surveyed expected 550,000 new claims.
The government said 6,138,000 people filed continuing claims in the week ended September 12, the most recent data available. That was down 123,000 from the preceding weeks’ revised 6,261,000 claims.
At 10:00 am ET, the National Association of Realtors is out with its August existing home sales, with the consensus forecast calling for a 2.9% increase over July levels.
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