NEW YORK (AP) -- Stock prices are little changed in early trading on Wall Street. An encouraging drop in jobless claims doesn't seem to be moving the market much, as investors wait for May jobs numbers due tomorrow. The Dow, S&P and Nasdaq have all been wavering between small gains and losses.
WASHINGTON (AP) -- The Labor Department reports the number of people filing first-time claims for unemployment benefits dropped by 11,000 last week to a seasonally adjusted 346,000. The four-week average of claims rose to 352,500. Both numbers are consistent with steady job growth. The government issues its May employment report tomorrow. Economists are expecting a modest gain of 170,000 jobs.
NEW YORK (AP) -- A sales snapshot from a dozen of the nation's retailers indicates the American consumer may be feeling a bit better about the economy. The International Council of Shopping Centers says a preliminary tally of 12 retailers shows a 3.2 percent increase in revenue last month compared to May of last year.
FRANKFURT, Germany (AP) -- The European Central Bank is forecasting more contraction for the 17 countries that use the euro. The bank predicts the Eurozone economy will shrink 0.6 percent this year. However, ECB President Mario Draghi (DRAHG'-ee) says recent surveys suggest growing optimism and the bank is sticking by its forecast for a gradual recovery later in the year.
DETROIT (AP) -- Chrysler is recalling nearly 630,000 Jeep SUVs to fix air bag and transmission fluid leaks. The recall includes Patriots and Compasses from the 2010 through 2012 model years to fix a software problem that could cause late deployment of side air bags and seat-belt tightening mechanisms. The transmission problem affects Wranglers from 2012 and 2013. The recalls come just two days after the automaker refused a government request to recall 2.7 million older model Jeeps over fuel tank leaks.
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