Wall Street fluctuated Thursday after a report showed new unemployment claims dropped last week but that the number of people receiving jobless benefits rose again.
The major indexes rose in the opening moments of trading as the new data showed the economy remains weak, then bobbled between positive and negative territory.
The Labor Department said the number of initial requests for unemployment insurance dropped to a seasonally adjusted 646,000 from the previous week's revised figure of 658,000, better than economists' expectations.
However, the number of people continuing to receive beneits set a new record for the eighth straight week, jumping 185,000 to a seasonally adjusted 5.47 million.
In morning trading, the Dow Jones industrial average fell 10.76, or 0.14 percent, to 7,475.82. The Standard & Poor's 500 index rose 0.84, or 0.11 percent, to 795.19, while Nasdaq composite index rose 3.65, or 0.24 percent, to 1,494.87.
Yesterday’s Top Performing SmallCapVoice.com stock:
Who's Your Daddy, Inc. (OTC BB: WYDI) was a SmallCapVoice.com top performer moving up over 14% on trading volume of 111,500 shares.
Who’s Your Daddy, Inc. is a brand management company focused on marketing, producing and distributing the Who’s Your Daddy® King of Energy line of beverages for the rapidly growing $6 billion world energy drink market.
Today’s SmallCapVoice.com Hot Stocks to Watch:
Sports Supplement Group, Inc. (OTC BB: SRSP)
SRSP is starting to trend higher on increasing trading volume
Sports Supplement Group Inc. (Owner of ERGOPHARM Performance Nutrition) is a sales and marketing company formed to acquire brands and companies currently operating in the sports performance and weight management markets. Since its formation, Sports Supplement Group has been actively engaged in seeking out companies that management believes would integrate efficiently into its portfolio.
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