Slight Slip

Thursday’s session closed out marginally lower. Brands such as AT&T, Alcoa, Verizon, and Wal-Mart traded down amid the release of less-than-stellar economic data. The Labor Department reported a jump in initial jobless claims. New claims increased by 78,000 to 439,000 last week, in the aftermath of Hurricane Sandy. Economists had anticipated 375,000 new claims. Meanwhile, the consumer price index edged up 0.1% in October, slowing in comparison to surges in the previous two months. Additionally, the core CPI rose 0.2%, exceeding an expected 0.1% upswing. In earnings news, Target posted an increase in quarterly results. Net profit hit $637 million, or 96 cents a share, up from $555 million, or 82 cents, a year ago. Elsewhere, crude oil futures shed 97 cents to settle at $85.87 a barrel.

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