New York (US), Mar 25 (AP) Stocks are slipping in early trading on Wall Street Thursday, with energy stock taking the hardest hits as the price of oil falls back, despite a round of encouraging reports on the economy.

The S&P 500 fell 0.5 per cent. Small-company stocks fell more than the rest of the market.

The Russell 2000 fell 1.2 per cent, though it's still beating other indexes so far this year. Bond yields fell slightly and the price of crude oil fell 3 per cent following a big rally a day earlier.

The drops came even as the government reported some encouraging news on the economy including a sharp decline in applications for unemployments benefits last week. (AP)

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