Jobless claims tumbled to its lowest level in more than two years but mortgage rates rose to a seven month high. The markets opened lower with the Dow slipping 7 points to 11,577 while Nasdaq eased a point to 2665.
On the upside
Shares of Qiao Xing Universal Resources (Nasdaq: XING) continued soaring after the mining company posted pictures of its recently acquired lead-zinc-copper mine in Inner Mongolia and announced the launch of a new company website in January.
The Daily Mail reported that BHP Billiton will make an all cash $90 per share offer to acquire Andarko Petroleum (NYSE: APC).
On the downside
Sonus Networks' (Nasdaq: SONS) executive vice president and chief operating officer resigned effective immediately.
In the broad market, declining issues edged out advancers by a slim margin on the NYSE while advancers outpaced decliners by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 791.
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