US futures edge lower as concerns turn to Spain

0
9

NEW YORK (AP) — U.S. stock futures are edging lower as concerns about Europe’s lingering debt crisis turn to Spain.

The Spanish government paid nearly 7 percent in an auction of 10-year bonds. That is the highest rate since 1997 and a level that economists seen as unsustainable.

In the U.S., investors will be looking toward the government’s report on initial applications for unemployment benefits last week. Economists expect that the number rose slightly to 395,000, which is well above what is considered a healthy jobs market.

The Dow Jones industrial average was down 27 points, or 0.2 percent, to 11,817 two hours before the opening bell. S&P 500 futures fell 5, or 0.4 percent, to 1,226. The Nasdaq 100 slid 9, or 0.4 percent, to 2,304.