Stocks Take Small Step Back

08/23/07 - 04:42 PM EDT

Robert Holmes

Away from stocks, the front-month October crude contract added 57 cents and closed at $69.83 a barrel. Gasoline prices gained 3.5 cents to $1.92 a gallon.

On the economic front, the Labor Department said initial jobless claims fell by 2,000 last week to 322,000 claims, the first decline in a month. The less-volatile four-week moving average rose by 4,750 to 317,750.

Treasury bonds gained. The 10-year note rose 9/32 in price, reducing the yield to 4.62%. The 30-year bond was up 18/32 in price, yielding 4.92%.

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