Stocks open flat following jobless claims report
Stocks opened flat on this last morning of trading in 2009, following an unexpected drop in new jobless claims filed last week.
In the first 15 minutes of trading, the Dow is less than one-tenth of 1 percent underwater.
The broader S&P 500 and the tech-heavy Nasdaq are both flat.
New jobless claims filed last week made a surprise 22,000-claim drop to 432,000, the lowest level since July 2008. This is a good sign, because economists say that new job creation can't start happening until the weekly jobless claims number consistently gets into the low 400s. It may also be a good portent for the December unemployment rate, which is set to be released next week. The U.S. unemployment rate stands at 10 percent.
-- Frank Ahrens
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December 31, 2009; 9:56 AM ET
Categories: The Ticker | Tags: Dow Jones, nasdaq, s&p 500
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