The weakest sectors in the broad market were technology, consumer non-cyclicals, and basic materials. Capital goods, consumer cyclicals, conglomerates were areas of strength.
Breadth was fairly even on the New York Stock Exchange while losers were ahead of winners on the Nasdaq by roughly a 2-to-1 ratio. Volume totaled 3.86 billion on the Big Board and 2.04 billion on the Nasdaq.
Thursday's data didn't provide much impetus to continue the rally stocks had enjoyed so far this week. Before the opening bell, the Labor Department said initial jobless claims for the week ended Oct. 13 rose by 46,000 to 388,000 from the previous week's upwardly revised figure of 342,000. The four-week moving average was 365,500, an increase from the prior week's 364,750.
Continuing claims for the week ended Oct. 6 fell 29,000 to 3.252 million from the preceding week's upwardly revised level of 3.281 million.On average, economists were expecting initial jobless claims of 365,000 and continuing claims of 3.275 million. "After all the confusion
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