Mildly positive numbers on new unemployment claims, foreclosures; stocks open down
The U.S. Department of Labor reports this morning that it counted 462,000 new unemployment claims for the week of March 6. Although that's a decrease of 6,000 from the previous week, analysts polled by Reuters had expected that figure to drop to 460,000. More of the Labor Department’s numbers are available here.
Elsewhere, the Wall Street Journal notes that U.S. foreclosure filings increased six percent in February over the same period last year. That's a positive development, sort of, in that it's the smallest increase in four years, according to foreclosure listing site RealtyTrac.
Such mildly positive numbers aren’t expected to excite investors, and without other significant government or corporate reports expected on the near horizon, it could be another uneventful day for the markets.
So far this morning, the S&P has opened at 1,143.96, down from its close yesterday afternoon of 1,145.61. Nasdaq opened at 2,351.11, down from a Wednesday afternoon close of 2,358.95.
-- Mike Musgrove
March 11, 2010; 9:39 AM ET
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