Stocks decline in early morning trading

Investors are showing little deference Thursday to a new report on weekly unemployment claims that was in line with expectations.

The Labor Department says the number of newly laid off workers seeking unemployment benefits for the first time was unchanged last week at 505,000, matching economists' expectations.

A report on leading economic indicators due out at 10 a.m. EST could provide stronger signs of a potential recovery.

The Dow Jones industrial average is down 70.21, or 0.7 percent, at 10,356.10. The Standard & Poor's 500 index is down 7.65, or 0.7 percent, at 1,102.15, while the Nasdaq composite index is down 19.10, or 0.9 percent, at 2,174.04.

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