Wall Street slips on jobless data and Cisco

By IBTimes Staff Reporter | May 13 2010 9:48 AM

U.S. stocks opened lower on Thursday after a lackluster report on jobless claims and cautious comments on the economy from Cisco Systems.

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The Dow Jones industrial average <.DJI> dropped 38.84 points, or 0.36 percent, to 10,858.07. The Standard & Poor's 500 Index <.SPX> fell 2.64 points, or 0.23 percent, to 1,169.03. The Nasdaq Composite Index <.IXIC> lost 8.79 points, or 0.36 percent, to 2,416.23.

The number of U.S. workers filing for jobless benefits fell only slightly last week, highlighting the challenges facing the labor market.

(Editing by Jeffrey Benkoe)

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