US stocks little changed after jobs report; global markets rise

Stocks little changed at Wall Street open

NEW YORK — Stocks are little changed in early trading, with investors wary of making big moves after a worse-than-expected weekly jobs report.

The Labor Department says new claims for unemployment benefits jumped unexpectedly to 576,000 last week. Economists had predicted a decline.

The mixed trade in U.S. stocks follows a rebound in overseas markets. In China, the Shanghai market bounced back from a sharp sell-off and the major European indexes are all up about 1 percent.

Stocks have been trading erratically this week as investors, absorbing mixed economic signals, have alternated between optimism and pessimism about a recovery.

The Dow Jones industrials are up 8 at 9,287. The Standard & Poor’s 500 index is up 2 at 998, while the Nasdaq composite index is up 3 at 1,972.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP’s earlier story is below.

Stock futures are losing their earlier gains on Wall Street, after a worse-than-expected weekly jobs report.

New claims for unemployment benefits jumped unexpectedly to 576,000 last week. Economists had predicted a drop to 550,000.

Stocks have been trading erratically this week as investors, absorbing mixed economic signals, have alternated between optimism and pessimism about a recovery.

Traders will get additional insight into an economic rebound when the Conference Board issues its Leading Economic Indicators for July at 10 a.m. EDT.

Dow Jones industrial average futures are down 3, or 0.03 percent, at 9,273. Standard & Poor’s 500 index futures is up 0.40, or 0.04 percent, at 997.50, while Nasdaq 100 index futures are down 1.75, or 0.1 percent, at 1,597.00.