0.13%SPY 128.17 
0.54%WM 4.65 20.10%
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NEW YORK - Wall Street is retreating after the government said claims for unemployment benefits rose last week and that industrial production dropped by more than expected in April.
Investors are also monitoring a speech by Federal Reserve Chairman Ben Bernanke in Chicago. Bernanke said in prepared remarks he is "encouraged" by recent efforts by banks to raise cash -a trend that is helping to relieve the credit crisis.
In the first few minutes of trading, the Dow Jones industrial average futures is down about 38 points at the 12,860 level.
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