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U.S. stocks struggle for direction after unemployment claims climb

U.S. stocks were struggling for direction Thursday morning after unemployment claims data signaled a softening labor market. The Dow Jones Industrial Average was down 0.1% soon after the opening bell, while the S&P 500 and Nasdaq Composite were flipping between gains and losses, according to FactSet data, at last check. The Labor Department said Thursday that initial jobless claims climbed by 6,000 to 260,00 in the week ended July 30. That’s in line with forecasts from economists polled by the Wall Street Journal and near a nine-month high.

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