The US dollar rallied as the Dow Jones Industrial Average started the day with triple-digit losses, but a later rebound in domestic stock markets left the greenback relatively unchanged through the afternoon. Morning US economic data proved largely uneventful, as second revisions to Q2 Gross Domestic Product numbers fell in line with consensus forecasts. Yet a simultaneous jump in Initial Jobless Claims painted a dreary picture for the future of labor market growth.

The Euro lost ground against its American counterpart, shedding $.0030 to $1.3645. The British Pound similarly lost on the early stock market tumbles, dropping $.0033 to $2.0141. Meanwhile, the Japanese Yen was the biggest gainer on the day; the US dollar fell ¥0.40 to ¥115.71.

Markets showed little concern over morning US economic data, with the dollar remaining almost squarely unchanged following the release of GDP and Jobless Claims figures. The Bureau of Economic Analysis reported the US economy expanded at a 4.0 percent annualized pace through the second quarter?its strongest performance since Q1, 2006. This represents a noteworthy upward revision to earlier estimates of a 3.4 percent growth rate, but consensus forecasts showed expectations of a slightly higher 4.1 percent result. The very marginal disappointment was hardly cause for alarm, however, and the dollar remained stable through subsequent trade. Yet the attached Personal Consumption numbers sent a relatively clear warning that consumers have cut back spending through the medium

DALLAS (AP) -- Dell Inc. said Thursday that preliminary second-quarter earnings jumped 46 percent on stronger sales of enterprise products and services, improved average selling prices and favorable component costs.

The computer maker said it earned $733 million, or 32 cents per share, in the three months ended Aug. 3, compared with $502 million, or 22 cents per share, a year ago. Sales rose 4 percent to $14.8 billion.

The results beat the prediction of analysts polled by Thomson Financial, who expected earnings of 30 cents per share on sales of $14.63 billion.

The report comes as Round Rock-based Dell emerges from a yearlong internal investigation into accounting misconduct.

Dell said it will have to reduce more than four years' worth of earnings by up to $150 million for misleading auditors and manipulating results to meet performance.

"While our results demonstrate we've made progress against our goals, we are still in the early stages of transforming our company's structure, costs and

Sears Holdings Corp.'s second-quarter profit dropped 40 percent on lower overall sales and weaker operating results from Kmart and its domestic Sears operations.

The earnings reported Thursday by one of the nation's biggest retailers were also being compared with results that included a gain on a large legal settlement a year ago.

"We are disappointed with our second quarter results," said Aylwin Lewis, Sears Holdings' chief executive and president.

Net income for the period ended Aug. 4 fell to $176 million, or $1.17 per share, compared with $294 million, or $1.88 per share, in the previous year.

Quarterly revenue dipped 4 percent to $12.24 billion versus $12.79 billion a year ago.

Analysts polled by Thomson Financial expected earnings of $1.13 per share. Those estimates typically exclude one-time items.

"Our gross margins came under pressure from sales declines and increased promotional activity, and as a result, our net income was significantly below last year

NEW YORK (AP) -- The Marlboro man is packing his saddle bags.

With the Wednesday announcement that it would spin off its Philip Morris International cigarette business, Altria Group Inc. moved forward on a plan that will ultimately put the biggest seller of Marlboro brand cigarettes in Lausanne, Switzerland.

The spinoff will shrink Altria to include Philip Morris USA, the biggest cigarette maker in the U.S., and a 29 percent stake in London-based SABMiller PLC, which brews Miller Lite beer.

When the spinoff is complete, Altria plans to close its Fifth Avenue headquarters in Midtown Manhattan and lose about 400 jobs in the process, with some employees possibly relocating to a new headquarters to be established in Richmond, Va., where Philip Morris USA is based. That plan is projected to save at least $250 million