Nokia President and CEO Olli-Pekka Kallasvuo speaking at Nokia's Capital Markets Day in Amsterdam on Dec 04, 2007

US stocks moved slightly higher in New York Thursday as poor housing data was counterbalance by a fall in initial jobless claims. The market continued to be supported by nws of talks to rescue two big bond insurers.

The Dow Jones Industrial Average, which had recovered strongly on Wednesday to close up almost 300 points was up 59 points, or 0.5%, at 12327.  The S&P 500 was up 0.6%, or 8 points, at 1346. The Nasdaq Composite Index was up 1.28%, or 30 points, at 2346.

Giant telco AT&T  reported taht fourth-quarter net income rose 62%, boosted  by profits at its wireless business, but subscriber-growth slowed sharply in its broadband and video segments. AT&T shares slipped 2.3%.

Nokia, the world's top mobile phone maker, rose 13.6% on the Frankfurt exchange, after it reported a stronger-than-forecast 44% profit rise, boosted by emerging markets and sales of high-margin multimedia devices.

Initial jobless claims decreased by 1,000 to 301,000 in the week ended Jan. 19, from a revised 302,000 a week earlier, the Labor Department said today in Washington. The four-week moving average, a less volatile measure, fell to a three-month low of 314,750, from 328,750 the prior week.

The National Association of Realtors reported that US sales of second-hand single-family homes fell 13% in 2007 - the most since 1982 - and prices dropped for the first time in at least four decades.

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The Wall Street Journal reports that top House lawmakers reached an agreement on legislation to jumpstart the economy, but the details were already causing friction, especially on the Democratic side of the aisle.

Congressional aides said House Speaker Nancy Pelosi and House Minority Leader John Boehner had reached an "agreement in principle" in meetings late last night on a bill to provide roughly $100 billion in tax rebates to a broad group of workers and about $40 billion in tax breaks for business.

The Journal says that the details still were being vetted with lawmakers, and Democrats and their allies already were raising concerns that the agreement doesn't include added spending on unemployment benefits or food stamps.

The rebates would be at least $300 for anyone who earned at least $3,000 in 2007, with $300 bonuses per children. People who owe income taxes would receive gradually more, up to $600 for individuals and $1,200 for couples. The rebates would be available to those below a certain income cap, likely $75,000 adjusted gross income for individuals and $150,000 for families.