Thursday, July 2, 2009

Stock futures are extending their decline as the June unemployment rate hit a 26-year high.

Ovserseas markets are also lower after a report showed unemployment in the 16 countries that use the euro rose to a 10-year high in May. That reinforced concerns that any recovery in the global economy will take time.

The U.S. Labor Department's unemployment figures showed the jobless rate rose to 9.5% last month from 9.4% in May.

Dow Jones industrial average futures are down 87 at 8,361. Standard & Poor's 500 index futures are down 10 at 910, while Nasdaq 100 index futures are down 6 at 1,473.