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Jobless Claims Climb 8,000 to 365,000

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Description
FBN’s Charles Payne breaks down the stories moving the markets early in the trading day.
Duration 0:59
Date Aug 2, 2012

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It is the big story today in -- stock market Knight capital.

The stock is getting hit hard after trading -- -- the company.

440.

Million dollars.

Dow Jones says some banks and brokers are refusing to do business with the company.

Fox business' Charlie Gasparino says -- is seeking a white Knight survivor saved the firm.

The Labor Department reports that the jobless claims rose to 365000.

Last week lower than expected but up 8000 from the previous week.

The official unemployment rate still high at eight point 2% we get that critical in July jobs report tomorrow morning at 8:20 AM eastern.

US factory orders fell unexpectedly by zero point 5% in June.

The report is the latest evidence that the economic recovery is slowing excluding transportation factory orders were down one point 8% last month.

Up next the FHFA -- the Obama administration on mortgage reform.