Stocks set for weak open

NEW YORK (CNNMoney.com) -- U.S. stocks looked set to start the third quarter lower Thursday, as investors remained jittery about the pace of the global economic recovery.

Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq futures were down slightly ahead of the opening bell.

Futures measure current index values against perceived future performance.

Worries of a worldwide economic slowdown have unsettled investors recently. U.S. stocks dived in the final hour of trading Wednesday, the last day of the second quarter.

For the quarter, the blue-chip Dow fell more than 10%, while the tech-heavy Nasdaq and broader S&P 500 each lost 12%.

"We're at one of those points where we're holding our breath, waiting to see if we get enough reassurance to excel," said Bruce McCain, senior vice president & chief investment strategist of Key Private Bank.

Until investors become more confident in the health of the economy, the market is likely to remain under pressure, he said.

"We could stay in this trading range for a good part of this year," said McCain. "It's just a question of whether investors can maintain their nerve until we get enough evidence to point up or down in terms of the direction of the economy."

Jobs: Weekly jobless claims jumped to 472,000 last week, up 13,000 from the previous week's revised figure of 459,000.

Economists surveyed by Briefing.com expected claims to edge up slightly to 458,000.

Trading may be quiet ahead of Friday's government employment report. Economists surveyed by Briefing.com forecasting an overall loss of about 100,000 jobs for June.

A report on private sector hiring released Wednesday showed that the U.S. economy gained 13,000 private sector jobs in June. The figure was significantly less than the 61,000 increase economists had expected.

Economy: Investors will take in a survey on nationwide manufacturing activity, which comes out at 10 a.m. ET.

The Institute for Supply Management's manufacturing index for June is expected to have dropped to 59 from 59.7 in May, according to a consensus estimate of economists surveyed by Briefing.com. The reading would still indicate expansion in the sector.

A reading on construction spending also will be released. Economists expect spending to have fallen 0.9% in May after rising 2.7% in April.

Pending home sales are forecast to have declined 10.5% in May after rising 6% in April, according to Briefing.com.

Auto and truck sales for June are due throughout the day.

World markets: European shares dropped in morning trading. Britain's FTSE 100 fell 1.2%, France's CAC 40 sank 2% and the DAX in Germany lost 0.9% in the early going.

Asian markets also retreated. Japan's Nikkei shed 2%, the Shanghai Composite declined 1% and the Hang Seng in Hong Kong finished the session 0.6% lower.

Dollar and commodities: The dollar was lower against the euro and the Japanese yen, but up versus the British pound.

U.S. light crude oil for August delivery lost $1.01 to $74.62 a barrel.

COMEX gold's August contract fell $7.80 to $1,238.10 per ounce.

Bonds: Treasury prices rose, pushing the yield on the 10-year note down to 2.93% from 2.94% late Wednesday. Bond prices and yields move in opposite directions.