National News

Nov 8, 2012 11:53 AM by Associated Press

Stocks stabilize a day after huge sell-off

NEW YORK (AP) - Stocks have moved between small gains and losses so far today on Wall Street, after stocks yesterday saw their biggest declines of the year.

The government reported today that the number of people seeking unemployment benefits fell last week by 8,000. But officials say the numbers are distorted by the superstorm that hit the Northeast last week.

Applications declined in one state because its unemployment office lost power during the storm and wasn't able to receive applications, a department spokesman said. The spokesman wouldn't identify the state.

The storm also pushed up applications in other states because those temporarily out of work sought benefits.



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