NEW YORK (AP) ? Stocks are opening lower on Wall Street after the government reported that more people applied for unemployment benefits last week than economists had been expecting.
The Dow Jones industrial average is down 40 points to 13,540 shortly after the opening bell. The Labor Department reported early Thursday that 382,000 people applied for unemployment benefits last week, more than forecast.
When applications consistently top 375,000, it suggests hiring is too weak to lower the unemployment rate.
The broader Standard & Poor's 500 index is down seven points to 1,454, and the Nasdaq composite index is down 15 points to 3,167.
Weak economic figures also weighed on markets in Europe and Asia. A gauge of European Union business activity slipped to its lowest level in more than three years.
Source: http://news.yahoo.com/us-stocks-global-markets-lower-135008948--finance.html
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