NEW YORK (AP) -- Stock futures sank Thursday with the latest economic data pointing to a steady yet slow improvement in the job market.
Dow Jones industrial futures fell 43 points to 13,041. The broader S&P futures gave up 5.5 points to 1,401.70 and Nasdaq futures lost 10 points to 2,771.25.
The number of Americans seeking unemployment benefits was unchanged last week at a seasonally adjusted 374,000, according to the Labor Department. The four-week moving average, a less volatile measure, increased to 370,250.
When such applications fall consistently below 375,000, it suggests that hiring is strong enough to lower the unemployment rate, which is hovering at an uncomfortable rate of 8.3 percent.
Unemployment applications have risen slightly over the past three weeks. Last week's number was revised upward to 374,000 from the 372,000 that was reported initially.
Also on Thursday, retailers are posting some strong sales numbers for August.
Target, Costco Wholesale Corp. and Limited Brands Inc. all beat Wall Street expectations for the month.
Target Corp. posted a 4.2 percent increase in revenue at stores open at least a year in as families began their back-to-school shopping.
Such comparable store sales are watched closely because they exclude the volatility of stores recently opened or closed, giving a better picture of the retail environment.
And consumer spending is a huge part of the economy, make up for around 70 percent of economic activity.
Later Thursday, the government is expected to report that consumer spending rose in July.
Traders and investors are also awaiting Friday's remarks from Federal Reserve Chairman Ben Bernanke who will speak at the central bank's annual meeting in Wyoming.
The government on Friday also reports on consumer sentiment and factory orders.
Last month, the Commerce Department reported a decline in orders sent to U.S. factories, a worrisome development on the jobs front and for the industrial sector.