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Wall Street dips at the open

Stocks wobble as retailers post strong March same-store sales and as weekly jobless claims suddenly jump.

April 12 2007: 9:35 AM EDT

NEW YORK (CNNMoney.com) -- Investors wavered in the first moments of trade Thursday as strong March same-store sales from big retailers competed with surging weekly jobless claims.

The Dow dipped slightly, the Nasdaq sagged while the S&P was basically unchanged.

Many retailers on Thursday reported much better-than-expected March sales, boosted by Easter-related purchases, but delivered dour forecasts for April.

The number of U.S. workers filing new claims for jobless benefits unexpectedly jumped 19,000 last week, government data on Thursday showed in a report skewed by seasonal layoffs for school holidays.

Oil pushed further above $62 on Thursday in response to a steep fall in gasoline stocks in top consumer the United States and after the International Energy Agency said OPEC has tightened output too much.

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