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Futures Fall Ahead of Jobs Report

The Associated Press

NEW YORK -- Stock futures were slumping ahead of a key monthly unemployment report.

Investors are awaiting the Labor Department's June unemployment figures. Economists expect the nation's jobless rat to rise to 9.6% last month from 9.4% in May. That would mark a 26-year high.

The rate is seen as a key barometer in the nation's economic recovery. The report is scheduled to be released at 8:30 a.m. EDT.

World markets also were lower Thursday after a report showed unemployment in the 16 countries that use the euro rose to a 10-year high in May.

Dow Jones Industrial Average futures were down 48 at 8,400. S&P 500 index futures were down 5 at 914, while Nasdaq 100 index futures were down 5 at 1,474.