All three major stock averages are down this morning after weekly jobless claims jumped 46,000 to a seasonally adjusted 388,000. Last week those numbers fell dramatically, but were distorted because one large state did not post its claims numbers.
In Europe, EU leaders are preparing to meet at a summit in Brussels as they try to overcome differences over plans for a banking union. According to reports, Greece, Spain and Cyprus will not be topics discussed at the summit.
The Dow is down 3 points, the Nasdaq is down 15 points and the S&P 500 is down 2 points. [Read more...]