Stocks Opened Higher after Jobless Claims Data

U.S. stocks opened higher on Thursday after data showed U.S. jobless claims matched 42-year low. The Dow Jones Industrial Average latelyadvanced 69.01 points, or 0.41%, to 16,993.76. The S&P 500 rose 10.29 points, or 0.52%, to 2,004.53. The Nasdaq Composite advanced 37.77points, or 0.79%, to 4,820.62.

The number of Americans submitting applications for jobless benefits unexpectedly declined last week to match the fewest in four decades.Initial unemployment claims dropped by 7,000 to 255,000 in the week ended Oct. 10, a Labor Department report showed Thursday.

Goldman Sachs Group Inc’s (GS.N) profit plunged for the second straight quarter as bond trading revenue fell by a third amid market turmoil stemming from concerns about global growth. Goldman’s net income applicable to common shareholders fell 38 percent – to $1.33 billion, or $2.90 per share, from $2.14 billion, or $4.57 per share, a year earlier.

U.S. and Alaskan authorities have ended their efforts to seek additional damages from Exxon Mobil Corp over the 1989 Exxon Valdez oil spill and the subsequent settlement, the Department of Justice said on Thursday.

Oil fell under $49 per barrel on Thursday, as selling continued after a jump in U.S. stockpiles shown in industry data the day before. U.S. crude (CLc1) fell 54 cents to $46.10 a barrel after settling down 2 cents at $46.64.

About the Author

has written 15542 stories on this site.

Write a Comment

Gravatars are small images that can show your personality. You can get your gravatar for free today!

You must be logged in to post a comment.

Copyright © 2012 Nine Stocks