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The number of people applying for unemployment benefits fell below 400,000 for the first time since April.
Weekly unemployment applications fell to a seasonally adjusted 395,000, the Labor Department said Thursday.
In other economic news, the U.S. trade deficit unexpectedly increased in June to the highest level since October 2008 as a slump in exports exceeded a decline in shipments from overseas.
The gap widened 4.4 percent to $53.1 billion from $50.8 billion in the prior month, Commerce Department figures showed Thursday in Washington.
