Stocks Finished Flat Despite Good News on Jobs
U.S. stocks closed largely unchanged on Thursday as cheer about a decline in jobless claims dissipated. Down for a fourth day, the Dow Jones Industrial Average fell 18.58 points, or 0.14%, to 13,326.39. The S&P 500 index gained 0.28 point to end at 1,432.84. The Nasdaq Composite fell 2.37 points, or 0.08%, to 3,049.41.
A U.S. appeals court overturned a preliminary injunction on the sale of Samsung Electronics Co Ltd’s Galaxy Nexus smartphone on Thursday, dealing a setback to Apple Inc in its battle against Google Inc’s increasingly popular mobile software. Apple is waging war on several fronts against Google, whose Android software powers many of Samsung’s devices.
Advanced Micro Devices (AMD) on Thursday cut its third-quarter revenue forecast, saying it now projects a 10% sequential decline in sales. Previously, the chipmaker expected sales to fall by 1%, plus or minus 3%, from the previous quarter.
Japanese mobile carrier Softbank Corp is in advanced talks to buy a substantial stake in Sprint Nextel Corp., (S) the third- largest U.S. network operator said Thursday.
Crude-oil futures rose Thursday on continued tension in the Middle East, but they finished off session highs after the Energy Information Administration reported a slightly bigger-than-expected increase in U.S. oil supplies last week. Crude for November delivery rose 82 cents, or 0.9%, to settle at $92.07 a barrel on the New York Mercantile Exchange.