Daily Market Wrap: March 8, 2012 Thursday, March 8, 4:34 PM ET
Optimism over a Greek debt swap deal gave the markets a boost today, with all the major indices climbing into positive territory.
On the economic front, weekly jobless claims rose 8,000 last week to 362,000, according to the Labor Department.
Economists were expecting claims to remain unchanged at 351,000.
Despite the unexpected increase in claims, these numbers still reflect an improving labor market.
In earnings news, Smithfield Foods (NYSE:
SFD) posted earnings that beat estimates, thanks to steady demand from Asia.
Fast food giant McDonald's (NYSE:
MCD) reported same store sales for February that missed Wall Street's expectations, sending shares lower today.
H&R Block (NYSE:
HRB) missed estimates on both revenue and earnings per share, even as the tax preparer recorded fewer expenses.
Shares of Apple (NASDAQ:
AAPL) are trading higher, just one day after the tech giant unveiled the new iPad and the company had its price target raised by at least 2 brokerages.
Tomorrow, we'll be watching for the monthly government jobs report, as well as more retail earnings.
For Marketnewsvideo.com, I'm Sayoko Murase.
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Daily Market Wrap: March 8, 2012
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