U.S. stocks recorded modest gains in early trading Thursday amid mixed retailer sales gains after two weak months.

The Dow Jones industrials climbed 22.27 points or 0.17 percent at 13,157.223. The Nasdaq composite was up 14.28 or 0.54 percent to 2,680.64. The S&P 500 gained 2.44 or 0.16 percent at 1,487.45.

Crude-oil futures fell 83 cents to $86.66 a barrel.

Bonds declined. The 10-year Treasury note lost 6/32 to yield 3.98 percent Thursday.

The dollar fell against the euro trading at $1.4634 from $1.4611 late Wednesday, while the dollar changed at 111.151 yen from 110.9 yen Wednesday.

Overseas stock markets were stronger, with the Nikkei 225 rallying 1.7 percent at 15,874 in Tokyo.

In economic news, the U.S. Labor Department said initial claims for jobless benefits fell by 15,000 to 338,000 after seasonal adjustments last week.

The Bank of England cut its key interest rate Thursday for the first time in two years by a quarter percentage point to 5.5 percent from 5.75. The European Central Bank, meanwhile, held its benchmark rate unchanged at 4 percent.  // Copyright 2007 by United Press International



Publication date: 06 December 2007   

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