The major averages are indicated lower following weakness in overseas markets Thursday. Thirty minutes before the start of trading in New York, stock index futures hint at a possible 20 or 30 point early loss for the Dow Jones Industrial Averages.

Markets are broadly lower across Asia after China’s central bank unexpectedly raised a key interest rate. It was the first tightening in five months and signals a policy change towards fighting inflation. Shanghai’s Composite Index suffered a 1.9 percent drop on the news. Japan’s Nikei fell .5 percent and Hong Kong’s Hang Seng lost .7 percent. Equity markets are modestly lower across Europe as well.

In the US, is likely to be cautious ahead of key monthly jobs data due out Friday morning. Earlier today, the Labor Department reported that weekly jobless claims rose 1,000 to 434,000 in the week ended January 2, which was a bit better than the 6,000 increase economists were expecting. Stock index futures showed a modest negative reaction to the numbers.

Economists expect Friday’s numbers to show the economy losing 35,000 jobs and the rate of unemployed increasing to 10.2 percent from 10 percent.

Bonds are seeing modest losses today ahead of the data. The benchmark ten-year Treasury is down 4/32nd and yields 8.38 percent.

The dollar is stronger, gaining .85 to 93.16 against the Japanese yen. The euro lost .0075 to 1.4331 against the buck.

Crude oil slipped 45 cents to $82.73 and gold dipped $4.30 to $1132.20 an ounce.

Among the stocks to watch, some of the retailers are in focus, as many are releasing monthly same store sales numbers. Target (TGT), The Limited (LTD), Sears (SHLD), and Bed, Bath and Beyond (BBBY) are moving higher on better-than-expected results. Hot Topic (HOTT) missed. Homebuilder Lennar (LEN) is up 5 percent after reporting a 19-cent per share profit for the quarter. Analysts were expecting a loss. BofA (BAC) is modestly higher after Credit Suisse analysts raised the stock to Outperform.