NEW YORK (AP) — Stocks are opening slightly lower after the government says more people are applying for unemployment benefits.
The Labor Department said 445,000 people applied for unemployment benefits last week, up from a revised total of 410,000 the previous week. It was the highest level since late October. Many retailers eliminated temporary holiday workers, driving the increase.
A separate report showed that wholesale prices in December rose by the largest amount in nearly a year, as a result of higher energy and food costs.
At the opening Thursday, the Dow Jones industrial average is down 8 points, or 0.1 percent, at 11,746. The Standard & Poor’s 500 index is down 1, or 0.1 percent, at 1,286. The Nasdaq composite index is down 5, or 0.2 percent, at 2,732.
