Stocks down…Jobless claims up…Mortgage rates edge higher

NEW YORK (AP) — Stocks are lower in early trading on Wall Street, led by a decline in energy stocks as the price of oil continue to slide. Oil has tumbled 13 percent in the last three months as supplies have remained ample despite geopolitical tension.

WASHINGTON (AP) — The number of Americans seeking unemployment benefits has ticked up. The Labor Department says weekly applications for unemployment aid rose by 11,000 last week to a seasonally adjusted 315,000, the most since late June. But the less volatile four-week average of applications rose just 750 to 304,000. The average is 7.1 percent lower than it was a year ago.

WASHINGTON (AP) — Average long-term mortgage rates are up slightly this week but remain near their lows for the year. Mortgage company Freddie Mac says the nationwide average for a 30-year loan edged up to 4.12 percent from 4.10 percent last week, where it had stayed for three straight weeks. The average for a 15-year mortgage rose to 3.26 percent from 3.24 percent.

NEW YORK (AP) — RadioShack says it may need more capital to help complete its turnaround efforts. Its CEO says the consumer electronics company is actively exploring options for overhauling its balance sheet and is in advanced talks with “a number of parties.” RadioShack is also working with its lenders, bondholders, shareholders and landlords to try to find a long-term solution. Details of a recapitalization are not yet finalized.

WASHINGTON (AP) — The Food and Drug Administration has approved a new weight-loss drug called Contrave. The drug developed by Orexigen Therapeutics is a combination of two drugs that are already in use, one to treat alcohol and narcotic dependence and the other an antidepressant that’s also used to help people quit smoking. The new pill joins two similar drugs from Arena Pharmaceuticals and Vivus that were approved by the FDA in 2012.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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