Stocks End Lower After Unemployment Claims Rise

By: Associated Press
By: Associated Press

New York, NY (AP) - Stocks are slipping after the government
reported an increase in applications for unemployment benefits last
week.

The Labor Department said Thursday that 409,000 people made
first-time claims for benefits. That's up from the previous week,
when applications fell to their lowest level in more than two
years.

The report came a day after ADP estimated that companies added
nearly 300,000 jobs last month. That report pushed stocks higher.

According to preliminary calculations, the Dow Jones industrial
average fell 25 points, or 0.2 percent, to close at 11,697.

The S&P 500 index fell 3, or 0.2 percent, to close at 1,273. The
Nasdaq rose 7, or 0.3 percent, to 2,709.

Roughly three stocks fell for every two that rose on the New
York Stock Exchange. Volume was 1 billion shares.

(Copyright 2011 by The Associated Press. All Rights Reserved.)


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