time claims for state unemployment insurance rose for the third straight week, climbing to 369,000 in the week ended Sept. 25, the Labor Department said. And the Commerce Department said personal spending was unchanged after climbing a revised 1.1 percent in July. This had been initially reported as a 0.8 percent gain. The National Association of Purchasing Management-Chicago said on Thursday its index of Midwest manufacturing activity rose in September to a better-than-expected 61.3 from 57.3 in August. Oil prices put added pressure on the market. U.S. light crude was trading up 29 cents at $49.80 a barrel, creeping higher to the psychologically sensitive $50 level. Oil prices settling below that level had eased investor concerns. Rising energy prices rattle investors because of the impact on corporate profits and consumer spending. Shares of Talbots Inc. fell almost 10 percent, or $2.65, to $24.65 after it cut estimates for its third-quarter earnings, saying recent hurricanes and more price-conscious customers were making its September sales unexpectedly weak. Internet travel site Travelzoo Inc. said it completed a private sale of 750,000 shares of common stock at $40 per share, a price 31 percent below its closing price Wednesday. It fell 4 percent, or $2.34, to $55.73 on Nasdaq. Shares of PepsiCo Inc. rose 1.7 percent, or 82 cents, to $48.92 after posting a quarterly profit. Merck fell $12.02 to $33.05, while Pfizer rose 25 cents to $30.44 on the NYSE.
