Daily Market Wrap: April 5, 2012 Thursday, April 5, 4:23 PM ET
After two days of declines, the markets struggled to recover, even as investors took in some positive news from the jobs sector.
The Labor Department is reporting that the number of Americans filing for unemployment benefits fell by 6000 last week, to a seasonally adjusted 357,000. That is the lowest level since April 2008.
Also, the number of planned layoffs at U.S. firms fell in March to the lowest level in 10 months, down 26.8 percent, according to a report from consultants Challenger, Gray and Christmas.
Among earnings, Bed, Bath and Beyond (NASDAQ:
BBBY) posted results which beat expectations, with a 24 percent increase in its fiscal fourth quarter.
Shares of Ruby Tuesday (NYSE:
RT) are down sharply after the the restaurant chain missed expectations by a wide margin.
It was a similar story for Constellation Brands (NYSE:
STZ) after the wine company reported a full-year earnings forecast which fell short of expectations.
For Marketnewsvideo.com, I'm Sayoko Murase.
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Daily Market Wrap: April 5, 2012
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