Wall St. Shares Forfeit Early Gains as Bond Yields Rise<br />Initial claims for U. S. unemployment benefits were below expectations, indicating a tight labor market, while U. S. Institute of Supply Management data showed prices paid by U. S. factories hitting a near 7-year high,<br />and fourth-quarter labor costs increased by 2.0 percent, adding to inflation concerns.<br />The Dow Jones Industrial Average rose 37.32 points, or 0.14 percent, to 26,186.71, the S&P 500 lost 1.83 points, or 0.06 percent, to 2,821.98<br />and the Nasdaq Composite dropped 25.62 points, or 0.35 percent, to 7,385.86.<br />(Reuters) - Wall Street stocks gave up early gains on Thursday as bond yields rose<br />and technology stocks retreated ahead of a host of high-profile earnings.<br />Analysts see fourth-quarter S&P 500 company earnings growth of 14.9 percent, up from 12 percent expected on January 1.<br />4-week moving average<br />Banks, which benefit from higher interest rates, led the S&P 500 financials to a 1.0<br />percent gain, with Goldman Sachs helping to push the Dow into positive territory.
