Stocks Fall Slightly Amid Erratic Trading

Summary

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NEW YORK (AP) - Wall Street closed slightly lower in erratic trading Thursday as investors uneasy about the credit markets and record-high oil prices took little solace from reports on new-home sales and durable-goods orders.

The Commerce Department said sales of new homes rose 4.8 percent in September from August's levels. The market initially popped on the data, as economists had predicted a decline. But it eventually pulled back because the sales increase was due to a big downward revision in August's decline, and that homebuilders had offered discounts in September to move inventory.

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Stocks Fall Slightly Amid Erratic Trading

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