U.S. stocks ended up on Thursday as a bigger-than anticipated drop in jobless claims mostly overrode concerns about a budget standoff on Capitol Hill. The Dow industrials climbed 55.04 points, or 0.36%, to 15,328.30. The S&P 500 index added 5.90 points, or 0.35%, to 1,698.67. The Nasdaq Composite rose 26.33 points, or 0.70%, to 3,787.43.
New applications for U.S. jobless benefits fell again last week and hovered just above a six-year low. Initial
claims dropped by 5,000 to a seasonally adjusted 305,000 in the week ended Sept. 21, the Labor Department said Thursday.
Nike says its first-quarter net income rose 38 percent, boosted by strong demand for its namesake brand and revenue growth in every region except China. Net income for the three months that ended on Aug. 31 rose to $780 million, or 86 cents per share. That compares with net income of $567 million, or 63 cents per share a year ago. Revenue rose 8 percent to $6.97 billion.
Global online commerce giant eBay, plans to buy payment firm Braintree in an $800 million cash acquisition aimed at expanding mobile transactions handled by PayPal, the eBay-owned online payment system.
Electronic Arts will not publish a new version of its college football video game “NCAA Football” next year and is evaluating the fate of the game franchise, which is mired in legal disputes with former collegiate athletes, the company said on Thursday.
The successor company to Knight Capital Group is near a settlement of around $12 million with the U.S. Securities and Exchange Commission related to last year’s trading glitch that disrupted equity markets and led to Knight’s sale, according to two sources.
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