The Joplin Globe, Joplin, MO

Business

June 14, 2012

US stocks waver at the open after weak job numbers

NEW YORK — U.S. stocks nudged up slightly at the opening of trading despite a batch of bad news.

The Labor Department reported Thursday that applications for unemployment benefits applications rose 6,000 last week, more than economists had forecast. The four-week average also rose for the third straight week to 382,000.

Minutes after the opening bell, the Dow Jones industrial average is up 10 points to 12,507. Home Depot Inc. is the top stock in the Dow, up 1.2 percent.

The Standard & Poor’s 500 is down 1 point to 1,314. The Nasdaq composite is down 10 to 2,808.

In Europe, borrowing rates for Spain touched a record high Thursday after the rating agency Moody’s cut its credit rating to one notch above junk status. Spain’s benchmark 10-year bond hit 6.96 percent.

 

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