Daily Financial News - Mortgage | Real Estate | Stock Market
Stocks fight back from big losses - CNNMoney.com -- Stocks ended with modest losses Thursday, fighting off a bigger decline that surrounded the latest worries about Greece's debt crisis and weaker-than-expected reports on the economy.
The Dow Jones industrial average lost 53 points or 0.5%. The S&P 500 index fell 2 points, or 0.2%. The Nasdaq composite lost 2 points or 0.1%.
Treasurys gain on flight to safety - CNNMoney.com -- Treasurys rose Thursday as investors flocked to the safety of U.S. debt following a dour report on the job market and worries about Greece's fiscal problems.
What prices are doing: The benchmark 10-year note was up 14/32 to 99-28/32, pushing the yield down to 3.63% from 3.69% late Wednesday. Bond prices and yields move in opposite directions.
The 30-year bond rose 29/32 to trade at 100-23/32 and its yield was 4.58%. The 2-year note ticked up 2/32 to 100-2/32 and yielded 0.83%.
Higher than expected Jobless rate - The Labor Department released its weekly jobless claims report before the opening bell on Thursday.
Initial jobless claims surged to 496,000 in the week ended Feb. 20. That's much more than the 460,000 claims projected by a consensus of economist opinion from Briefing.com. It's also much larger than the revised tally of 474,000 claims reported for the prior week.
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