Rising jobless claims weigh down markets

The markets traded lower during the midday with the Dow losing 38 points to 17,029 as jobless claims unexpectedly rose. Nasdaq fell 11 points to 4,574.

On the upside

Shares of SinoCoking (Nasdaq: SCOK) surged again on the strength of a new project announced on Tuesday to convert coal into syngas.

Eastman Chemical (NYSE: EMN) will pay a premium of approximately $1.73 billion to acquire Taminco (NYSE: TAM).

Shares of Lands' End (Nasdaq: LE) extended its gains.

On the downside

Investors locked in profits on Net Element (Nasdaq: NETE).

Identiv (Nasdaq: INVE) priced its public offering of 2 million common shares at the discounted price of $15 per share.

Profit taking weighed down shares of Synthesis Energy Systems (Nasdaq: SYMX).

In the broad market, declining issues edged out advancers by a slim margin on the NYSE and by nearly 5 to 4 on Nasdaq. The broader S&P 500 slipped 3 points to 1991. Bitcoin lost $3 to $473.
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