NEW YORK (AP) — An unexpected decrease in unemployment claims sent stocks slightly higher Thursday even as a stalemate continued in Washington over how to avoid a U.S. debt default.
The government said first-time applications for unemployment benefits fell to 398,000 last week, the lowest level in four months. That's a sign that employers are laying off fewer workers.
The Dow Jones industrial average rose 36 points, or 0.3 percent, to 12,336 in morning trading. The index fell the previous four days over worries that the U.S. might default on its debt next week if Congress doesn't raise the country's borrowing limit.
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