Summary Box: Rally pauses after 3-day surge

AP News
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Posted: Dec 01, 2011 4:55 PM
Summary Box: Rally pauses after 3-day surge

DAY AFTER: A rally that drove major stock indexes up 7 percent this week stalled Thursday. Stock indexes ended slightly lower, a day after the market posted its biggest gain in two and a half years.

JOBS NEWS: A rise in applications for weekly unemployment benefits dampened the mood Thursday. The Labor Department said initial applications rose to 402,000 last week, the second weekly increase in a row.

RETAIL SALES: Macy's Inc., Costco Wholesale Corp., Limited Brands Inc. and other retailers reported sales that surpassed Wall Street estimates. Stock in Nordstrom Inc. jumped 4 percent. Costco rose 2.1 percent.