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NEW YORK (AP) — Stocks are lower in early trading on Wall Streets, as traders get a range of corporate earnings and economic news. The Dow fell almost 200 points yesterday after the Federal Reserve reiterated it will be "patient" in raising rates from record lows but signaled greater concern about excessively low inflation.
WASHINGTON (AP) — The number of people seeking unemployment aid has plunged to the lowest level in almost 15 years, a sign hiring will likely remain healthy. The Labor Department says last week's applications dropped 43,000 to a seasonally adjusted 265,000. That is also the biggest decline in two years. The less-volatile four-week average fell by a little more than 8,000 to 298,500. The latest drop may have been exaggerated by the federal holiday, which likely slowed the processing of some claims.
WASHINGTON (AP) — This week's average long-term U.S. mortgage rates remain near historically low levels, though they're up slightly after four straight weeks of declines. Freddie Mac says the nationwide average for a 30-year mortgage edged up to 3.66 percent from 3.63 percent last week. The rate for the 15-year loan, a popular choice for people who are refinancing, is up to 2.98 percent from 2.93 percent last week.
WASHINGTON (AP) — Fewer Americans signed contracts to buy homes in December, a sign that low mortgage rates have yet to coax more buyers into the market. The National Association of Realtors says its seasonally adjusted pending home sales index fell 3.7 percent last month, ending the year below its 2013 average. However, the Realtors project sales of existing homes will rebound in 2015 to 5.26 million, a 6.6 percent increase from last year.
NEW YORK (AP) — Hershey has a sudden hankering for protein, and says it'll be adding jerky to its lineup. The maker of candies like Reese's and Kit Kat says it's buying Krave Jerky, a deal intended to give it a foothold in snacks people see as healthy fuel. The president of Hershey's North America says the company plans to continue to expand beyond sweets, through both acquisitions and in-house development.
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