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Weaker dollar boosts US stock futures

Thu Dec 3, 2009 6:59 AM EST
us-news, business, us, wall-street, federal-reserve, wall, street, labor-department, federal-reserve-chairman-ben-bernanke
Sara Lepro, AP Business Writer
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<p>FILE - In this Nov. 10, 2009 file photo, trader Andrew Walsh, left, works on the floor of the New York Stock Exchange.  Major stock indicators traded mixed Thursday, Dec. 3, 2009, after the Institute for Supply Management said its index of activity in the service industry fell to 48.7 in November from 50.6 in October.  (AP Photo/Richard Drew, File)</p>

FILE - In this Nov. 10, 2009 file photo, trader Andrew Walsh, left, works on the floor of the New York Stock Exchange. Major stock indicators traded mixed Thursday, Dec. 3, 2009, after the Institute for Supply Management said its index of activity in the service industry fell to 48.7 in November from 50.6 in October. (AP Photo/Richard Drew, File)

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NEW YORK — A weaker dollar and hopes for more good news on employment are lifting stock futures.

Stock futures are rising as the dollar slips against other major currencies. A weaker dollar makes commodities cheaper for foreign buyers and boosts profits at U.S. companies that do business overseas.

Investors are also awaiting a report on the number of newly laid-off workers seeking jobless benefits. Analysts expect initial claims for unemployment insurance to have risen last week after dropping for five straight weeks.

Unemployment is seen as one of the economy's biggest obstacles to growth.

Dow Jones industrial average futures are up 26 at 10,356. Standard & Poor's 500 index futures are up 1 at 1,096, while Nasdaq 100 index futures are up 3 at 1,796.

© 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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