Wall Street poised to open down

US stocks were poised to open lower Thursday as investors, anxious about the financial health of the average U.S. consumer, digested mostly poor sales figures from major retailers and a dip in last week's unemployment claims.

The Labor Department said initial claims for unemployment benefits fell by 53,000 to 357,000 last week, a better-than-expected reading. But investors are far from confident about the jobs picture; the four-week average of claims, which helps the market look past week-to-week volatility, rose last week to 378,250, a two-and-a-half-year high.

Because of the shaky economy, retailers have been hurting. Clothing companies including Limited Brands Inc. and Pacific Sunwear of California Inc. reported sharp drops in March sales on Thursday, a day after home furnishings retailer Bed Bath & Beyond Inc. warned its first-quarter profit would come in below the average analyst estimate.

Some retailers are weathering the economic weakness better than others. Wal-Mart Stores Inc. reported a strong rise in March sales at stores open for at least a year, and boosted its forecast for April sales and first-quarter profit. But investors remain cautious overall about the retail sector -- Wal-Mart, a discount retailer that sells many consumer staples, was expected to outperform pricier counterparts focused on discretionary items.

The mixed readings on consumer spending arrived as oil prices trade near record highs and banks reveal more trouble with the credit markets.

Lehman Brothers Holdings Inc. disclosed in a regulatory filing Wednesday that it liquidated three funds because of the tight credit markets and bought the assets of those funds, valued at $1 billion, on Feb. 29. The investment bank said it also purchased deteriorated assets valued at $800,000 from other funds.

Dow Jones industrial average futures fell 41, or 0.33 percent, to 12,531. Standard & Poor's 500 index futures fell 6.80, or 0.50 percent, to 1,353.50. Nasdaq 100 index futures fell 7.75, or 0.42 percent, to 1,829.50.

(Agencies)