Wall Street Holds Gains After Jobless Report

By: Associated Press Email
By: Associated Press Email
Stock futures are holding their gains after the U.S. Labor department reported a decline in weekly unemployment benefit claims that matched projections.

The Dow Jones news ticker is reflected on a window at the NASDAQ building just before the closing bell, Monday, Oct. 6, 2008 in New York's Times Square. Wall Street suffered through another extraordinary and traumatic session Monday, with the Dow Jones industrials plunging as much as 800 points _ their largest one-day point drop _ before recovering to close with a loss of 370. (AP Photo/Mary Altaffer)

New York (AP) Stock futures are holding their gains after the U.S. Labor department reported a decline in weekly unemployment benefit claims that matched projections.

The government reports that jobless claims fell by 20,000 to 478,000 last week. The claims, which were at a seven-year high, still remain at elevated levels due to the struggling economy.

Stock futures appear eaded for a strong open after IBM reaffirmed its profit outlook and investors were hopeful the government might begin making investments in U.S. banks.


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