Stocks at 8,257 midday Thursday
November 13th, 2008 by Rachel PritchettNEW YORK (AP) — Wall Street struggled to find direction Thursday after three straight days of declines, with investors reacting calmly to a larger-than-expected jump in unemployment claims and news that Wal-Mart Stores Inc. is cutting its full-year outlook
Stocks fluctuated throughout the session, but the intense volatility that has dominated trading was easing for the time being; investors were likely just pausing while they tried to determine their next move. A streak of bad corporate and economic news has sent prices falling sharply this week, including a 410-point slide in the Dow Jones industrials on Wednesday.
The market seemed little affected by the Labor Department’s report that the number of newly laid-off individuals seeking unemployment benefits jumped last week to a level not seen since just after the Sept. 11, 2001, terrorist attacks.
Scripps Interactive Newspapers Group
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