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U.S. futures surrender gains on weak jobs report

5:03 AM, Sep 7, 2012   |    comments
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NEW YORK (AP) - A weaker-than-expected jobs report has cost U.S. stock futures most of their early morning gains.

Dow Jones industrial futures are unchanged at 13,275.

The broader S&P 500 futures are up 3 points at 1,434. Nasdaq futures are up 2 points at 2,828.

Dow futures had been up about 40 points before the report.

The Friday morning jobs report showed the U.S. economy added 96,000 jobs in August. The unemployment rate fell to 8.1 percent from 8.3 percent in July, but only because more people gave up looking for work.

Computer chip giant Intel Corp. also dealt the market a blow by cutting its revenue outlook because of weak demand. That move could renew concerns about the economy.

The Associated Press

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