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Fed Hopes Fade, Stocks Decline Thursday
(2:07)
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The market closed in the red as optimism over further stimulus from the Federal Reserve diminished. New home sales hit a 2-year high in July, although prices declined in the month. Initial jobless claims unexpectedly increased last week, hitting a 5-week high. In corporate news, HP cut its full-year forecast. And the FTC gave the greenlight to Facebook's planned acquisition of Instagram.
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