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 Coty said the offer will be withdrawn if Avon doesn't enter into discussions by Monday, May 14th.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: Publishing, Textiles
Related symbols: PSO, LEE, DXYN, COLM
Wednesday Sector Leaders: Shipping, Non-Precious Metals & Non-Metallic Mining Stocks
Related symbols: GNK, SBLK, ZEUS, AKS
Tuesday Sector Laggards: Drugs, Biotechnology Stocks
Related symbols: ADHD, CNCE, FOLD, CASC
Wednesday's ETF with Unusual Volume: IXG
Related symbols: IXG, BAC, C, HIG, NTRS
Wednesday's ETF Movers: XME, PID
Related symbols: AKS, X, PSO, SSW, PID, XME
JNK, XPP: Big ETF Outflows
Related symbols: JNK, XPP
Daily Dividend Report: O, LLTC, FAST, NTRS, MTX
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Daily Dividend Report: LNT, EPR, SO, ADP, FE, UNM, NNN
Related symbols: LNT, EPR, SO, ADP, FE, UNM, NNN
Daily Dividend Report: BLK, CL, PAYX, KEY, FRC, LEN
Related symbols: BLK, CL, PAYX, KEY, FRC, LEN
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Daily Market Wrap: May 10, 2012
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