Stocks rebound...Retail sales higher...Jobless claims drop

NEW YORK (AP) Stocks are mounting a tentative recovery effort after yesterday's 206-point drop in the Dow. The key averages have been higher since the opening bell.

Washington (AP) The Labor Department says the number of workers filing first-time claims for unemployment benefits fell sharply last week. New claims totaled 365,000, which is a drop of 18,000 from the previous week.

NEW YORK (AP) Some retailers saw a bit of sales relief last month, capping several months of dismal sales. Consumers were focusing on discounters and wholesale clubs, still shying away from stores selling clothes.

ATHENS, Greece (AP) Steady as she goes for rates in Europe.

The European Central Bank has left its interest rate steady at 4 percent. That follows a similar decision by the British central bank to leave its key rate at 5 percent.

LONDON (AP) Consumer electronics giant Best Buy is paying 2.1 billion dollars for a 50 percent stake in Europe's largest cell phone retailer. The Carphone Warehouse will place its 2,400 U.S.

and European stores in the new joint venture.

(Copyright 2008 by The Associated Press. All Rights Reserved.) APNP 05-08-08 0921CDT | save this article / add to your favorites list