Stocks Slip

Stocks took a breather on Thursday. Brands such as Oracle, Cisco Systems, and Juniper Networks traded lower. Stocks slipped amid concern over Europe’s debt crisis and despite stronger-than-expected U.S. economic data. In earnings news, Oracle declined today after quarterly sales and earnings data, released yesterday, missed estimates. Meanwhile, initial jobless claims increased last week. The Labor Department said claims climbed by 2,000 to 336,000, from an upwardly revised 334,000 the prior week. Economists expected a jump to 342,000 new claims. On another note, the National Association of Realtors said existing home sales rose to an annual rate of 4.98 million units in February from an upwardly revised 4.94 million-unit rate in January. Expectations were for an increase of 5 million units in February. Elsewhere, crude oil futures fell by $1.05 Thursday to settle at $92.45.

Disclosures:
All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. The contents are intended for general information purposes only. Information provided should not be the sole basis in making any decisions and is not intended to replace the advice of a qualified professional, such as a tax consultant, insurance adviser or attorney. Although this material is designed to provide accurate and authoritative information with respect to the subject matter, it may not apply in all situations. Readers are urged to consult with their adviser concerning specific situations and questions. This is not to be construed as an offer to buy or sell any financial instruments. It is not our intention to state, indicate or imply in any manner that current or past results are indicative of future profitability or expectations. As with all investments, there are associated inherent risks. Please obtain and review all financial material carefully before investing.