LEADING Wall Street stock averages edged lower as worries over inflation boosted interest rates back to an unsettling level in the bond market.
The Dow Jones industrial average quickly surrendered an early 19-point gain and then drifted through the session with a modest deficit, losing 32.56 points on the day.
In economic news, the Labour Department reported that the number of first-time unemployment claims rose by 5,000 last week, but remained in a range that still indicates a strong job market.
The Dow's weakest issue was Boeing, which fell amid worries that European trade officials will succeed in blocking the aircraft maker's acquisition of McDonnell Douglas.
Advances outnumbered declines by a small margin on the New York Stock Exchange, with 1,291 up, 1,201 down and 879 unchanged. NYSE volume totaled 426.94 million shares, against 537.04 million in the previous session.
