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U.S. stocks opened with modest gains on Thursday after the government reported weekly jobless claim fell under 400,000 for the first time since early April. Bullish sentiment, however, was curbed by the ongoing uncertainly over whether lawmakers would reach agreement to hike the U.S. debt ceiling before Tuesday's deadline. The Dow Jones Industrial Average gained 7 points to 12,309. After a tentative rise, the Standard & Poor's 500 Index dipped a point to 1,304. The Nasdaq Composite fell 6 points to 2,758. The reaction to earnings reports is a little better today. Today may be the heaviest day for earning reports so far. Liz Claiborne and Green Mountain Coffee are jumping 20% on earnings. Croc's is up 13%, LSI is up 14%, Ameriprise and Aflac are both up 6% after all reported solid earnings. Other stocks trading higher after reporting earnings include Whole Foods, Citrix Systems, Visa, Cabela's, Timken, Noble Energy, Bristol Myers, Potash, Wisconsin Energy, Motorola Solutions, Lazard, CME Group, DR Horton, Arctic Cat, MF Global, Pulte Group, Tyco, DuPont, and Tyco. A few stocks are trading lower following earnings including the dog of the day, Sprint. That stock is down 16%. Tech stock Akamai Software is another big loser down 18% following disappointing earnings. Time Warner Cable, Suncor Energy, Avon, Monster Worldwide, Sony, Waste Management, and Exxon Mobil are lower following earnings. Through the first hour the averages briefly sold off only to rebound. Through the morning the Dow pushed higher rising 60 points while the Nasdaq rose 30 points. In The afternoon the rally fizzled. By the last hour the Dow had given up all its' gains. The Nasdaq rose just 7 points. Frustrating. The Dow Jones Industrial Average lost 62 points to 12,240, with Exxon Mobil weighing down the average. It was the Dow's fifth straight session of losses. The S&P 500 lost 4 points to 1,300. The Nasdaq Composite ended up a point at 2,766.
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