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Rising holiday hopes 0:58 Report

Nov 5 - Better-than-expected October sales for many American retailers and a drop in jobless claims applications to a 10-month low fueled hopes the upcoming holiday shopping season may not be as grim as feared.

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Jobless claims hit 17-month low

WASHINGTON (Reuters) - The number of U.S. workers filing new applications for jobless benefits unexpectedly fell last week to the lowest level in about 17 months, suggesting the economy might be on the cusp of job creation.

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