The stock market fell in early trading Thursday after the Labor Department reported a spike in jobless claims, sapping some of the market's confidence ahead of Friday's anxiously anticipated March employment report.
The government said the number of people applying for unemployment benefits rose last week to the highest level since September 2005.
Investors are also cautiously awaiting more testimony from Federal Reserve Chairman Ben Bernanke, who is appearing before Congress for a second straight day. On Wednesday, the Fed chairman said a recession is possible in the first half of this year.
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