Daily Market Wrap: May 10, 2012 Thursday, May 10, 4:57 PM ET
Stocks climbed back into positive territory after news of a better than expected jobs report that gave investors a sense of optimism.
The Labor Department is reporting a drop in weekly claims for unemployment last week, falling 1000 to a seasonally adjusted 367,000.
369,000 was the number economists were expecting.
Also on the economic front, the US trade deficit widened to $51.8 billion in March, which was more than expected, and also marked the fastest rate in 10 months.
Cisco Systems (NASDAQ:
CSCO) beat earnings expectations, but posted disappointing guidance, sending shares lower today.
Shares of Kohl's (NYSE:
KSS) are also trading lower today, after the retailer posted a steep drop in earnings, due to price cuts.
In M&A news, Coty upped its bid to acquire Avon Products (NYSE:
AVP) to about $10.7 billion. Coty said the offer will be withdrawn if Avon doesn't enter into discussions by Monday, May 14th.
Tomorrow, we'll take a look at the consumer sentiment report as well as earnings from Nvidia (NASDAQ:
For Marketnewsvideo.com, I'm Sayoko Murase.
Wednesday Sector Laggards: Oil & Gas Exploration & Production, General Contractors & Builders
Related symbols: CPG, FXEN, TOL, GRBK
Wednesday Sector Leaders: Computer Peripherals, Airlines
Related symbols: RSYS, JNPR, HA, UAL
Tuesday Sector Laggards: Precious Metals, Metals & Mining Stocks
Related symbols: BTG, SVLC, ANR, ACI
Wednesday's ETF with Unusual Volume: DIV
Related symbols: DIV, LO, FTR, NRP
Wednesday's ETF Movers: BBH, XOP
Related symbols: MNKD, BMRN, BBG, MCF, XOP, BBH
DUST, MZZ: Big ETF Outflows
Related symbols: DUST, MZZ
Daily Dividend Report: MRK, DE, ESS, STR, DSW, MOV
Related symbols: MRK, DE, ESS, STR, DSW, MOV
Daily Dividend Report: WY, FGP, FRED, BKJ
Related symbols: WY, FGP, FRED, BKJ
Daily Dividend Report: WMB, AMT, HD, CMCSA, MCD, EMC, HAL, PCP
Related symbols: WMB, AMT, HD, CMCSA, MCD, EMC, HAL, PCP
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Daily Market Wrap: May 10, 2012
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