Stocks Turn Mixed, Erasing Early Losses

U.S. stocks turned mixed, erasing early losses in midday trading on Thursday after jobs data and results from retailers helped lift sentiment Thursday. The Dow Jones Industrial Average lately fell 13.40 points to 13,061.35. The S&P 500 shed 0.20 point to 1,398.76. The Nasdaq Composite rose 14.07 points to 3,082.16.

Discounter Target Corp., No.1 U.S. clothing chain Gap Inc., Victoria’s Secret parent Limited Brands Inc. and department-store operator Macy’s Inc. all reported better-than-expected results, as most retailers checked in with their monthly sales results Thursday.

Crude-oil prices bounced off a seven-week low Thursday as lower prices enticed investors back to the market. Crude oil for May delivery advanced $1.38 cents, or 1.4%, to $102.85 a barrel on the New York Mercantile Exchange.

Greek bank shareholders are under pressure from Athens to contribute billions of euros to recapitalize the lenders so that the government can avoid taking them over.

About the Author

has written 14908 stories on this site.

Copyright © 2012 Nine Stocks