Market Snapshot: U.S. stocks pare losses; Nasdaq Composite crosses into green

Stocks slump on jobless claims, weak retail sales Bucking trend, tech shares pull Nasdaq Composite into positive territory NEW YORK (MarketWatch) -- U.S. stocks on Thursday were mostly on the decline for the first day in three as unemployment filings hit six-year highs, American International Group Inc. posted a multibillion-dollar loss and Wal-Mart Stores Inc.'s sales cast a pall. "Weekly jobless claims have not been kind of late [and] Wal-Mart's same-store sales are a disappointment, which is raising some concerns about the consumer's health," said Marc Pado, U.S. market strategist at Cantor Fitzgerald. The major stock indexes pared some of their losses after data pointed to a possible strengthening in the U.S. housing market in coming months. The National Association of Realtors reported its index of sales contracts on... [read full story]