Daily Market Wrap: October 25, 2012

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October 25, 2012 AT 9:08 PM
Stocks held onto gains this morning despite a mixed bag of economic reports, but the markets took a downturn on rumors of a US downgrade by rating agency Fitch. The number of Americans filing initial jobless claims fell by 23,000 last week, to a seasonally adjusted 369,000 according to the Labor Department.