NEW YORK (AP) — Weaker than expected sales reports from retailers and another large number of claims for unemployment benefits pulled the stock market lower for the second straight day Thursday.
The Dow Jones industrial average lost 38 points, or 0.3 percent, to 12,252 in afternoon trading. The S&P 500 fell 2, or 0.2 percent, to 1,312. The Nasdaq composite gained 3, or 0.1 percent, to 2,771.
First-time applications for unemployment benefits, an indication of how many people are losing their jobs, fell slightly last week to 422,000. That was more than economists were expecting and well above the 375,000 level that signals that the economy is adding jobs.
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