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"Cliff" Fears Offset Data Thursday; Stocks Lower
(2:04)
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Ongoing fears surrounding the "fiscal cliff" offset some upbeat economic data. Initial jobless claims dropped by 12,000 to hit 350,000 in the week ended December 22nd. According to the Commerce Department, new home sales rose at the fastest pace in 2 1/2 years last month.The latest data from the Conference Board showed a sharp drop off in consumer confidence during December. And Toyota reached a deal settling lawsuits stemming from a alleged unintended acceleration in some of its vehicles.
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