MIDDAY LUNCH

Dow 10558.51 -14.22, Nasdaq 2292.01 -9.31,  S&P 1120.31 -4.74

Stocks are trading slightly lower even as jobless claims beat estimates.

The Labor Department reported today that 450,000 new people filed for unemployment for the week of Sept. 11^th.  Economists had expected new claims of 460,000. But continuing claims came in higher than expected at 4,485,000.

In other economic data released today, the Producer Price Index came slightly higher than expected at +0.4%, while the core rate came in line at +0.1%.

Also the Philadelphia Fed said the manufacturing in the area for the month fell -0.7 which was up from the prior reading of -7.7, but missed economists’ estimates for +2.0 growth.

Housing continues to suffer.  RealtyTrac announced today that banks repossessed 95,364 homes last month, up 3% from July hitting its highest level yet.  Year over year foreclosures were up 25%.

FedEx (FDX) 82.81 -3.09, -3.61% shares are lower after the company posted an earnings miss and gave mixed future guidance.