1st time jobless claims rose to 586,000, a 26-year high, from 556,000 the previous week. Consumer spending fell for a 5th straight month while incomes narrowly contracted. The Dow edged up 32 points to 8452 while Nasdaq slipped a point to 1520.
On the upside
Wal-Mart Stores (NYSE: WMT) announced a settlement to pay as much as $640 million across 63 lawsuits involving wage and hour violations.Owens-Illinois (NYSE: OI) was added to the S&P 500. The company produces glass containers.
Industrial real estate investment trust ProLogis (NYSE: PLD) sold its Chinese operations and Japanese equity stakes for $1.3 billion in cash.
On the downside
YRC Worldwide (Nasdaq: YRCW) cancelled a debt tender offer and announced a $150 million contract to sell and lease back some of its facilities.
Cameco (NYSE: CCJ) was downgraded by an analyst. The Canadian company develops and produces uranium in Canada, the U.S., and Central Asia.
In the broad market, declining issues outpaced advancers by a margin of 6 to 5 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a point to 466.
