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Stock Market News Update for Thursday, December 09, 2010

Thursday saw an early rally on Wall Street run out of gas as renewed weakness in the euro took the spotlight off the four-week average of weekly jobless claims sinking to fresh two-year lows and a larger-than-expected rise in wholesale inventories.

The blue chips had been up about 40 points earlier in the session. After surging last week, Wall Street has largely treaded water this week as the bears have failed to make anyway headway.

Wall Street finally ended in a stalemate on Thursday as the Nasdaq Composite advanced for the seventh day in a row, but uncertainty over what will happen to the expiring Bush tax cuts prevented the Dow from joining its peers at fresh 2010 highs.

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