US STOCKS-Wall Street set to open lower as labor market recovery cools

Wall Street’s main indexes were set to slip at the open on Thursday as weekly jobless claims posted a surprise increase, the strongest signal yet that more fiscal support would be necessary to avoid another round of mass layoffs and furloughs. The Labor Department’s most timely report on the economy showed 870,000 Americans applied for unemployment benefits in the week ended Sept. 19. The S&P 500 is now flat on the year again and is hovering just above correction territory after peaking on Sept. 2.


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