Stocks are falling in early trading after a report shows initial claims for unemployment benefits rose unexpectedly for the second straight week.
The Labor Department says first-time requests for jobless benefits rose to 484,000 last week, the highest level since late February. Economists were expecting claims to fall to 440,000. High unemployment is considered a key stumbling block to a strong, sustained economic recovery.
Stocks are pulling back after five straight days of gains pushed the Dow Jones industrial average above 11,000 and the Standard & Poor's 500 index above 1,200 for the first time in 18 months.